India's largest law firm Cyril Amarchand Mangaldas (CAM) acted as the Indian legal counsel to Avenue Supermarts Limited (that runs DMart retail network) on its INR 4,098 crore fund raise through Qualified Institutional Placement (QIP).
The Capital Markets Practice of Cyril Amarchand Mangaldas advised Avenue Supermarts on the QIP. The Transaction Team was led by Yash Ashar, Partner & Head - Capital Markets; and Abhinav Kumar, Partner; with support from Neha Samant, Principal Associate; Tania Chourasia, Associate, Vanya Utkarsh, Associate; and Akanksha Prakash, Trainee - Legal.
As a part of the Transaction, Avenue Supermarts issued 20,000,000 equity shares of face value of INR 10 each at a price of INR 2,049 per equity share, including a premium of INR 2,039 per equity share.
Other parties and advisors involved in the transaction included:
Kotak Mahindra Capital Company Limited, Axis Capital Limited, DSP Merrill Lynch Limited, HSBC Securities and Capital Markets (India) Private Limited, IDFC Securities Limited, JM Financial Limited, and J. P. Morgan India Private Limited, who acted as the Book Running Lead Managers to the Issue.
IndusLaw acted as the Indian legal counsel to the Book Running Lead Managers.
Herbert Smith Freehills LLP acted as the International Legal Counsel to the Book Running Lead Managers.
The date of closing was February 11, 2020.
Shares of Avenue Supermarts Ltd was last trading in BSE at Rs.2461.8 as compared to the previous close of Rs. 2425. The total number of shares traded during the day was 80001 in over 6168 trades.
The stock hit an intraday high of Rs. 2484.1 and intraday low of 2430.55. The net turnover during the day was Rs. 197210171.