Amarchand JSA and Clifford Chance advise Lavasa in filing DRHP

Indian developer Lavasa Corporation Limited hopes to enter the capital markets with $425 million (Rs. 1900 crore) initial public offering (IPO) by December, if it gets speedy clearance for its DRHP (Draft Red Herring Prospectus)..Amarchand & Mangaldas acted as the domestic legal counsel to Lavasa with Partner Yash Asher..J. Sagar & Associates acted as the domestic legal counsel to the underwriters with a team lead by Partner Nosh Modi, along with Clifford Chance, Singapore as the international legal counsel to the underwriters lead by Partner and head of the India Capital Markets Unit, Rahul Guptan..Hindustan Construction Company controls Lavasa with 65 percent stake. Gautam Thapar controlled Avantha Group is the second-largest shareholder with a 16 percent stake. Other shareholders are Venkatesh Hatcharies 13 percent and Pune-based investor Vinay Maniar with 6 percent..The Deal Curry reports the proposed IPO will put Lavasa’s valuation at Rs. 20,000 crore ($4.4 billion), making it among the top three Indian realty companies..The Economic Times reports that Lavasa is raising the funds for construction of an integrated township near Pune in Maharashtra. Last year, Lavasa posted profit before tax of Rs. 212 crore ($45.5 million) on total income of Rs. 482 crore (approximately $100 million). It has debt of around Rs 1,500 crore ($312.5 million).