Shardul Amarchand Mangaldas & Cyril Amarchand Mangaldas advised Medplus Health Services IPO of US$ 183 million
Shardul Amarchand Mangaldas & Co. advised Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited (the "Book Running Lead Managers") on the initial public offering by Medplus Health Services Limited comprising a fresh issue by the Company and an offer for sale by PI Opportunities Fund – I and certain other selling shareholders. The deal is valued at USD 183 million approximately. The date of transferring of equity shares is 20 December, 2021 and the date of listing on the BSE and NSE is 23 December, 2021.
The Offer has been oversubscribed 53.67 times, with the QIB portion oversubscribed 114.19 times and non-institutional bidders portion oversubscribed 87.08 times.
The capital markets team was led by Nikhil Naredi, Partner; Mubashshir Sarshar, Principal Associate; Oindree Bandyopadhyay, Associate; Harini Jambunathan, Associate; Shreyans Jain, Associate; and special thanks to Tarun Srikanth, Associate. The legal team to one of the shareholders, Lavender Rose Investment Ltd (Warburg Pincus Group) was led by Ashni Roy, Partner; Monal Mukherjee, Partner; Neha Shaw, Principal Associate; and Chintan Aashwini, Associate.
Cyril Amarchand Mangaldas advised Medplus Health Services Limited and PI Opportunities Fund – I as to Indian law. Sidley Austin LLP advised the Book Running Lead Managers on International law aspects. Samisti Legal LLP advised the promoters as to Indian law.