Cyril Amarchand Mangaldas Advised Zomato on Raising INR 9,375 Crores through IPO

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Cyril Amarchand Mangaldas team encouraged Zomato Limited, which is a leading food services platform in India, on its going public (IPO).

The Capital Markets group of Cyril Amarchand Mangaldas encouraged Zomato on the Transaction. The Transaction team was led by Yash Ashar, Partner & Head – Capital Markets; Bharath Reddy, Partner; Rohan Banerjee, Partner; and Gokul Rajan, Partner; with support from Sindhushri Badarinath, Principal Associate; Aashima Johur, Principal Associate; Nishkarsh Jakhar, Senior Associate; Amitpal Singh, Senior Associate; Aniran Ghoshal, Associate; and Shachi Singh, Associate.

Zomato released 1,233,552,631 equity shares for money at a rate of INR 76 per equity share, aggregating as much as INR 9,375 crores, comprising of a fresh concern of 1,184,210,526 equity shares aggregating as much as INR 9,000 crores and a market of 49,342,105 equity shares aggregating as much as INR 375 crores, comprising of 49,342,105 equity shares by Info Edge (India) Limited (the “Offer“). The Offer included a booking of approximately 6,500,000 equity shares aggregating to INR 49.4 crores for purchase by qualified staff members of the Company.

This is India’s first unicorn to list on the stock exchanges and one of the largest digital economy companies to list in India. The offer is placed to blaze a trail for other e-commerce, digital economy and technology-oriented companies to explore listing in India.

Other advisors involved in the Transaction are:

  • Kotak Mahindra Capital Limited, Morgan Stanley India Private Limited, Credit Suisse Securities (India) Private Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited (Book Running Lead Managers (BRLMs) to the Issue)

  • Latham & Watkins LLP (International legal counsel to BRLMs)

The draft red herring prospectus dated April 27, 2021 (DRHP) was filed with SEBI and the red herring prospectus (RHP) and the prospectus (Prospectus) were filed with SEBI and the Registrar of Companies, NCT of Delhi and Haryana at New Delhi on July 6, 2021 (checked out with the addendum dated July 11, 2021) and July 19, 2021, respectively.

The Company was noted on NSE and BSE July 23, 2021.

About Cyril Amarchand Mangaldas

India’s Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the worths going back 104 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has 750 lawyers, including over 130 partners, and offices in India’s crucial organization centres at Mumbai, New Delhi, Bengaluru and Ahmedabad. The Firm recommends a large, and differed client base that consists of foreign and domestic commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulative bodies.

The firm was recently called in ’25 Most Innovative Companies of the Year‘ by CII. Received “Law Firm of the Year” award at the Asian Legal Business (ALB) India Law Awards 2020 and “Law Firm of the Year, India” at the Asialaw Regional Awards 2020. The firm was identified as the “Most Innovative National Law Firm of the Year – India for 2020” at the IFLR Asia Awards and voted as the “Employer of Choice for 2020” from India, by the Asian Legal Business.

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