JSA is the sole adviser to consumer electronics retailer Sathya Agencies’ proposed IPO valued at up to INR6 billion (USD64 million).
The offering comprises a fresh issue of shares worth up to INR3 billion and an offering of existing shares valued at up to INR3 billion. Sathya Agencies filed its draft red herring prospectus with the Securities and Exchange Board of India in April.
“Issuers such as Sathya Agencies often present a distinct set of opportunities and challenges when compared with larger, more sophisticated issuers, and addressing these effectively requires considerable skill and judgment,” said Arka Mookerjee, lead partner for the JSA team.
“An important part of our role has been to support Sathya Agencies in strengthening its corporate governance framework to meet the rigorous standards expected of a listed company.”
Mookerjee co-led the JSA team, with partners Pracheta Bhattacharya and Ananth Balaji. Associates Shreya Sharma, Palak Karundia, Prateek Khandelwal, Ritu R Jaiswal, Bhuvnesh Kumar and Ishika Jain provided support.
Sathya is the largest consumer durables and electronics-focused retail player in Tamil Nadu and by extension South India based on the number of stores. It also ranks as the largest in Tamil Nadu and the fifth largest in India among its peers in terms of revenue from operations.
