SAM, CAM, Sidley Austin act on India’s largest IPO in 2023 - Mankind Pharma

Mankind Pharma Limited initiated an initial public offering (IPO) of equity shares, comprising an offer for sale by promoter-selling shareholders and private equity investors (affiliates of Chrys Capital and Capital Group).

The IPO is valued at ₹4,326.35 crores (approximately US$530 million).

Shardul Amarchand Mangaldas & Co advised Mankind Pharma on Indian Law.

The transaction team consisted of Prashant Gupta (National Practice Head, Capital Markets), Abhiroop Amitava Datta (Partner), Ruth Chenchiah (Principal Associate), Romit Raja Srivastava (Senior Associate), Sridutt Mishra (Associate) and Divya Dhawan (Associate).

The firm also advised Beige Limited and Link Investment Trust on Indian Law with a team consisting of Prashant Gupta (National Practice Head, Capital Markets), Abhinav Maker (Partner) and Ajo Jomy (Senior Associate).

Cyril Amarchand Mangaldas and Sidley Austin LLP advised Book Running Lead Managers - Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited on the Indian and international legal aspect, respectively.

The Sidley team was led by partner Manoj Bhargava and comprised counsel Shashwat Tewary, managing associate Klara Thamrin, and associates Jayant Bhardwaj and Caulyn Bong (all based in Singapore); partners Daniel O’Shea, Robert M. Kreitman, Nicholas R. Brown, and Carla G. Teodoro, managing associate Alvin Wang, and associate John Jee (all based in New York); partner Andrew W. Shoyer (based in Washington, D.C.); and managing associate Christian D. Barraza (based in Miami).

This is India’s largest IPO by size thus far in the calendar year 2023. The IPO was subscribed over 15 times overall and the qualified institutional buyer’s component was subscribed over 49 times.

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