Cyril Amarchand Mangaldas (CAM), Sidley Austin and S&R Associates have counselled on Dr Agarwal’s Health Care IPO, raising INR30.27 billion (USD348.6 million).
Senior partner Yash Ashar, along with partners Reuben Chacko and Abhiroop Lahiri led the CAM transaction team advising Dr Agarwal’s, an eye-care company, on Indian law. Principal associate Tanvi Kini, senior associate Sravya Surapaneni, and associates Vishesh Jain, Anna Kallivayalil, Rakshitha V and Julia Joseph supported the team.
The offer comprised a fresh issue of 7.46 million (7,462,686) shares, amounting to INR3 billion, and shareholders offering 67.84 million (67,842,284) shares for sale valued at INR27.27 billion.
As part of the offer, CAM also advised the promoters and other shareholders in the sale of 13.8 million existing shares, valued at INR5.57 billion.
Sidley Austin acted as the international lead counsel for the book running lead managers, including Kotak Mahindra Capital, Morgan Stanley India, Jefferies India, and Motilal Oswal Investment Advisors. Partners Manoj Bhargava and Samir Gandhi led the Sidley Austin team, which included Shashwat Tewary, Dhanush Dinesh, Alvin Wang, Carla Teodoro, Andy Shoyer, Nick Brown, Leslie Shubert, Angie Xenakis, Brian Earl, Prabhat Mehta, Robert Kreitman and Michael Mann. S&R Associates acted as Indian legal counsel for the book running lead managers, with partners Sandip Bhagat and Jabarati Chandra leading the team. Associates Ishan Seth, Sudipta Choudhury, Abhishek Gupta and Varda Saxena assisted the team.
Dr Agarwal’s Health Care provides a comprehensive range of eye care services, which includes cataract, refractive and other surgical procedures, as well as consultations, diagnostics, non-surgical treatments, and the sale of optical products, contact lenses, accessories and pharmaceutical products.
