Shardul Amarchand Mangaldas Advised CORONA Remedies Limited On INR 655.38 Crore Initial Public Offering
Shardul Amarchand Mangaldas advised CORONA Remedies Limited on INR 655.38 Crore Initial Public Offering
The leading law firm in India, Shardul Amarchand Mangaldas & Co. (SAM) advised CORONA Remedies Limited, the promoter selling shareholder, promoter group selling shareholders, and investor selling shareholders in connection with the initial public offering of approximately INR 655.38 crore (US$ 72.23 million). The IPO comprised an offer for sale of 6,174,051 equity shares by Dr. Kirtikumar Laxmidas Mehta (Promoter Selling Shareholder), Minaxi Kirtikumar Mehta, Dipabahen Niravkumar Mehta, Brinda Ankur Mehta (Promoter Group Selling Shareholders), and Sepia Investments Limited, Anchor Partners, Sage Investment Trust (Investor Selling Shareholders).
The IPO witnessed exceptional investor demand and was oversubscribed over 137 times, reflecting strong market confidence in the company and the pharmaceutical sector. JM Financial Limited, IIFL Capital Services Limited, and Kotak Mahindra Capital Company Limited acted as Book Running Lead Managers. J. Sagar Associates advised the Book Running Lead Managers on Indian law, while Sidley Austin LLP acted as U.S. legal counsel to the company and the Book Running Lead Managers.
The SAM team advising the Company, Promoter Selling Shareholder, and the Promoter Group Selling Shareholders was led by Prashant Gupta (National Practice Head – Capital Markets) and Devi Prasad Patel (Partner), along with Sridutt Mishra (Senior Associate), Anoop Mukundan (Associate), and Rudraksh Karnik (Associate).
The corporate team advising the Investor Selling Shareholders was led by Karun Prakash (Partner) and Sangamitra Sankaraiah (Partner), along with Anshul Chopra (Principal Associate).
The capital markets team advising the Investor Selling Shareholders was led by Manjari Tyagi (Partner), Jheel Bhargava (Senior Associate), and Bhumika Panigrahi (Associate). Special thanks to Deeksha Dhingra (Associate).
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