Seven law firms advise on Brainbees Solutions IPO

Brainbees Solutions Limited (First Cry.com) has made an Initial Public Offering through a fresh issue and an offer for sale by SVF Frog (Cayman) Ltd, Mahindra & Mahindra Limited, PI Opportunities Fund- 1, TPG Growth V SF Markets Pte. Ltd., NewQuest Asia Investments III Limited, Ratan Tata and others (Selling Shareholders).

The deal is valued at approximately $499.49 million.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited, and Avendus Capital Private Limited are the Bankers on the transaction.

Shardul Amarchand Mangaldas & Co advised Brainbees Solutions on this IPO.

The transaction team consisted of Prashant Gupta (Partner and National Practice Head – Capital Markets), Sayantan Dutta (Partner), Trishita Dasgupta (Counsel), Kamiya Marwah (Senior Associate), Divya Dhawan (Associate) and Purva Mishra (Associate).

Sidley Austin LLP advised Brainbees on the international legal aspects.

Cyril Amarchand Mangaldas, Trilegal, and IndusLaw advised the Selling Shareholders.

The Capital Markets team of Cyril Amarchand Mangaldas acted as counsel to SVF Frog (Cayman) Ltd (an entity of the SoftBank group) ("SVF Frog"), in its capacity as  one of the selling shareholders . 

The transaction was led by Yash Ashar, Senior Partner and Devaki Mankad, Partner; with support from Sanjana Ravjiani, Senior Associate.

Trilegal represented the largest institutional selling shareholders—a group of 11, including Premji Invest, Mahindra and Mahindra, TPG, NewQuest Asia, and ChrysCapital—in connection with Brainbees Solutions' IPO (First Cry.com).

The Capital Markets Trilegal team advising on the deal was led by Partners Bhakta Patnaik and Albin Thomas and comprised attorneys Malika Grewal, Counsel, and Pratyusha Dasgupta, Associate.

Khaitan & Co and Linklaters Singapore advised the Bankers on the Indian and international legal aspects, respectively.

The Khaitan deal team included Abhimanyu Bhattacharya, Oishik Bagchi, Aparna Bagree, Ritika Khare, Saisha Bacha, Divyam Wadhwa and Arjun Kapur.

The Linklaters team is led by Partner and Head of India Practice Amit Singh, with support from counsel Joseph Wolpin  and managing associate Anandee Banerji.  

The IPO was subscribed over 12.22x, with the Qualified Institutional Buyers (QIB) portion subscribed over 19.30x, and the Non-Institutional Buyers (NIB) portion subscribed over 4.68x.

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