Shardul Amarchand Mangaldas advises Paradeep Phosphates Limited and Zuari Maroc Phosphates in relation to the IPO of equity shares of Paradeep Phosphates Limited amounting to U.S.$ 194.40 million
June 10, 2022
Shardul Amarchand Mangaldas & Co. advised Paradeep Phosphates Limited and Zuari Maroc Phosphates Private Limited in relation to the initial public offering of equity shares of Paradeep Phosphates Limited. The deal is valued at U.S.$ 194.40 million (approx.). The date of allotment of the equity shares was 24 May, 2022.
Despite the volatile market conditions prevailing at the time of launch, the IPO was overall subscribed 1.42x, with the qualified institutional buyer portion being subscribed 3.40x and the anchor investor portion being subscribed 1.04x.
The transaction team was led by Prashant Gupta, Partner; Sayantan Dutta, Partner; Sanjana Chowdhry, Senior Associate; Addway Bandyopadhyay, Senior Associate and Shivang Agarwal, Associate.
Khaitan & Co. and Sidley Austin LLP advised the Axis Capital Limited, ICICI Securities Limited, JM Financial Limited and SBI Capital Markets Limited (“Book Running Lead Managers”) on domestic legal and international legal aspects, respectively.