The Mumbai offices of Amarchand Mangaldas are acting as the domestic legal advisors to Godrej Properties in their Initial Public Offering (IPO). Godrej had initially filed its draft red herring prospectus (DRHP) with the SEBI in June 2008, but withdrew the offering due to adverse market conditions. Amarchand\'s Capital Markets Partner Yash Asher is leading the transaction. The company is planning to raise around Rs. 600 crores ($127 million) through the public offering, which will be used to repay its debts, which currently stand at about Rs. 450 crores ($95 million), and to increase its land bank.
The Managing Director of Godrej Properties is lawyer-turned-businessman, Milind Korde. Shodhan A. Kembhavi, Vice President (Legal and Secretarial), is handling the in-house legal and compliance issues.
Luthra & Luthra, Mumbai, acted as the domestic legal advisors to the underwriters, with the team being led by Capital Markets Partner Madhurima Mukherjee and Group Head, Manan Lahoty, with Associate Pragati Kumar. The Singapore offices of Jones Day acted as the international counsel for the underwriters. Jones Day has been particularly active in the Indian markets this year, with Godrej being its fifth IPO transaction in 2009.