Khaitan & Co has advised JSW Cement on its initial public offering valued at up to 40 billion rupees ($476.7 million), while Trilegal acted for the book running lead managers (BRLM) to the deal.
The IPO comprises a fresh issue of equity shares and an offer for sale by the existing investors, including State Bank of India, Apollo and Synergy Capital The funds raised from the IPO are proposed to be used for debt repayment and capital expenditure for establishing a new integrated cement unit.
This is the second IPO in two years for the Sajjan Jindal-led JSW Group, following the public listing of its port operations unit, JSW Infrastructure, last year. Khaitan and Trilegal had advised the deal on that occasion as well.
The BRLMs comprised JM Financial, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company, and SBI Capital Markets.
The Khaitan team advising on the IPO included executive director Sudhir Bassi, partners Madhur Kohli and Aayush Mohata, and associates Johann Valladares, Sarjana Das, Anshul Mordia and Abhishek Iyer.
The Trilegal team was led by partner Richa Choudhary and included counsels Avanti Kale and Maitreya Rajurkar, as well as associates Aayush Khandelwal, Aman Bahl, Shivayana Balodia and Archit Jain.
