SAM & Co Advises Blackstone on the Rs. 5,081.73 mn Stake Sale in SH Kelkar and Company IPO

Shardul Amarchand Mangaldas & Co (SAM & Co) acted as Indian legal counsel to selling shareholders, Blackstone Capital Partners (Singapore) VI FDI Two Pte. Ltd. and Blackstone Family Investment Partnership (Singapore) VI-ESC FDI Two Pte. Ltd. (“Blackstone Entities”), in relation to the Initial Public Offering (“IPO”) by SH Kelkar and Company Limited, pursuant to which the Blackstone Entities offered 13,227,575 equity shares as part of the Offer for Sale (“OFS”).

The Capital Markets Team of Shardul Amarchand Mangaldas Team was led by Mr. Prashant Gupta, Partner and included Mr. Sayantan Dutta, Partner, Ms. Manjari Tyagi, Principal Associate and Ms. Serena Upadhyay, Associate.

The IPO of SH Kelkar and Company involved sale of 28,231,827 equity shares of face value of Rs. 10 each, aggregating to approximately Rs.5,081.73 million. It comprised of a fresh issue of Rs. 2,100 million and an OFS of Rs. 2,981.73 million by the Blackstone Entities and Ms. Prabha Ramesh Vaze, at a price of  Rs. 180 per equity share (including a share premium of Rs. 170 per equity share). The offer opened on October 28, 2015 and closed on October 30, 2015.

The parties involved in the transaction were SH Kelkar and Company Limited (the “Issuer”); JM Financial Institutional Securities, Kotak Mahindra Capital Company Limited (the “Book Running Lead Managers”); and Blackstone Capital Partners (Singapore) VI FDI Two Pte. Ltd., Blackstone Family Investment Partnership (Singapore) VI-ESC FDI Two Pte. Ltd.

Deal Value: Rs. 5,081.73 million

Practice Group: Capital Markets

Date of Closing: November 9, 2015

Other Advisors: Other Advisors to the deal were:

1. DSK Legal acted as the Indian legal counsel to SH Kelkar and Company

2. Khaitan & Co. acted as the Indian legal counsel to the Book Running Lead Manager

3. Jones Day acted as International legal counsel to the Book Running Lead Managers

About Shardul Amarchand Mangaldas & Co. (SAM & Co.)

Shardul Amarchand Mangaldas & Co. (SAM & Co.) is one of India’s leading full service law firms. Founded on almost a century of legal achievement, SAM & Co. reconstituted in May 2015 and has started anew. The Firm is known for its exceptional Mergers & Acquisition, Competition Law, Dispute Resolution & Arbitration, Regulatory Litigation, Capital Markets and Private Equity practices globally.

Its mission is “enabling business by providing solutions as trusted advisors through excellence, responsiveness, innovation and collaboration”. The Firm has been at the helm of major headline transactions and litigations in all segments of industry and business besides representing major trans-national corporates on their India entry and business strategy.

Headed by eminent practitioners Shardul Shroff and Pallavi Shroff, the Firm has more than 370 lawyers, including 70 partners across its six offices in India, which include – New Delhi, Mumbai, Gurgaon, Ahmedabad, Bengaluru and Kolkata.