Shardul Amarchand Mangaldas & Co. advises Brainbees Solutions Limited on its Initial Public Offering

August 16, 2024

Shardul Amarchand Mangaldas & Co. advised Brainbees Solutions Limited (“Issuer”) on its 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 (collectively, “Selling Shareholders”). The deal is valued at approximately USD 499.49 million.

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.

The transaction team was led by Prashant Gupta, Partner and National Practice Head – Capital Markets; Sayantan Dutta, Partner; Trishita Dasgupta, Counsel; Kamiya Marwah, Senior Associate; Divya Dhawan, Associate; Purva Mishra, Associate.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, BofA Securities India Limited, JM Financial Limited and Avendus Capital Private Limited acted as the Book Running Lead Managers on the transaction.

Sidley Austin LLP advised the issuer on the international legal aspects.

Khaitan & Co. and Linklaters Singapore Pte. advised the Book Running Lead Managers on the Indian and international legal aspects, respectively.

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