Shardul Amarchand Mangaldas & Co. advises Zen Technologies Limited on its Qualified institutions placement

August 29, 2024

Shardul Amarchand Mangaldas & Co. advises Zen Technologies Limited (“Issuer”) on its Qualified Institutions Placement aggregating to INR 1,000 crores. The deal was closed on August 23, 2024.

Zen Technologies is one of the India’s few companies that operates in the defence training and simulation and anti-drone systems segments. Their proprietary training platform integrates with the entire range of simulation offerings from land-based military training simulators and driving simulators to live range equipment. Zen Technology primarily caters to Ministry of Defence (MoD), state police units, security forces and paramilitary forces as well as armed forces of foreign countries in Africa, Middle East and countries in the commonwealth of independent states (CIS).

The transaction team was led by Sayantan Dutta, Partner; Ankur Verma, Senior Associate; Debolina Mitra, Associate; Jheel Bhargava, Associate; and Mansie Jain, Associate.

Motilal Oswal Investment Advisors Limited, ICICI Securities Limited and Nuvama Wealth Management Limited acted as the Lead Managers on the transaction.