Cyril Amarchand Mangaldas, JSA and Shardul Amarchand Mangaldas & Co have worked on the INR13 billion (USD152.46 million) TVS Infrastructure Trust (InvIT) IPO on the National Stock Exchange (NSE), which is among the first InvIT listings and the largest of its kind in India.
JSA advised lead managers Axis Capital and Kotak Mahindra Capital Company in connection with the listing of TVS InvIT, an infrastructure investment trust focused on the warehousing and logistics sector.
Partner Arka Mookerjee led the transaction team, with the support of partners Pracheta Bhattacharya and Anshu Bansal from the equity capital markets team, as well as principal associates Sourav Modi and Ananth Balaji. Associates Aditya Shendye, Jeebitesh Bhattacharya and Vaishnavi Kokkonda also provided assistance.
The JSA team advised on all aspects of the transaction, including legal due diligence, drafting of the offer documents, and ensuring compliance with the Securities and Exchange Board of India and stock exchange regulations.
As part of the transaction, the TVS InvIT acquired 18 infrastructure parks from TVS Industrial & Logistics Parks (TVS ILP), strengthening its position as a key player in this sector. The TVS InvIT units were listed on the NSE on 8 July 2025.
Cyril Amarchand Mangaldas counselled TVS InvIT, TVS Infrastructure Investment Manager and TVS ILP. Partner Kranti Mohan led the team, with support from principal associate Sarvpriya Mishra, senior associate Saksham Khokhar, as well as associates Molika Agrawal, Parikha Rathi and Mansii Jain.
Partners Abhilash Pillai, Ashish Jain and Rishiraj Bhatt advised on the real estate aspects while senior partner Yash Ashar provided guidance on the transaction.
SAM acted for International Finance Corporation, one of the marquee investors in the TVS InvIT IPO. Partners Nikhil Naredi and Rohit Tiwari led the team with assistance from principal associate Saloni Tyagi senior associates Harini Jambunathan and Shruthi Hariharan, as well as associate Mathangi K.
