Shardul Amarchand Mangaldas & Co Advises on the Proposed IPO by Dr. Lal PathLabs Limited

Shardul Amarchand Mangaldas & Co. (SAM & Co.) is acting as the legal counsel as to Indian law, to Kotak Mahindra Capital Company Private Limited and Citigroup Global Markets India Private Limited, the book running lead managers for the proposed IPO by Dr. Lal PathLabs Limited. The proposed IPO will involve an Offer for Sale (OFS) of up to 1,16,00,000 equity shares of Rs. 10 each by the selling shareholders.

The SAM & Co. Capital Markets Practice Team was led by Mr. Prashant Gupta, Partner. The supporting team included Mr. Sayantan Dutta, Partner; Ms. Ishita Kashyap, Associate; Mr. S. Nagashayana, Associate; and Ms. Barkha Doshi, Associate.

The draft red herring prospectus for the proposed IPO has been filed with the Securities & Exchange Board of India on September 14, 2015. The proposed IPO will be a pure OFS transaction consisting of a sale of up to 12,61,996 equity shares by (Hony.) Brig. Dr. Arvind Lal, up to 20,56,747 equity shares by Dr. Vandana Lal, up to 2,38,226 equity shares by Eskay House (HUF), up to 5,50,386 equity shares by Mr. Anjaneya Lal, all members of the Promoter/ Promoter Group and up to 58,60,000 equity shares by Wagner Limited, an affiliate of TA Associates, up to 14,71,575 equity shares by Westbridge Crossover Fund, LLC and up to 1,61,070 equity shares by Sanjeevini Investment Holdings.

The parties involved in the transaction are Dr. Lal PathLabs Limited, (Hony.) Brig. Dr. Arvind Lal, Dr. Vandana Lal, Dr. Anjaneya Lal, Eskay House (HUF), Wagner Limited, Sanjeevini Investment Holdings, Westbridge Crossover Fund, LLC, Kotak Mahindra Capital Company Private Limited and Citigroup Global Markets India Private Limited.

Luthra & Luthra Law Offices is acting as the Indian legal counsel to Dr. Lal PathLabs Limited. Davis Polk & Wardwell is acting as the international legal counsels to Kotak Mahindra Capital Company Private Limited and Citigroup Global Markets India Private Limited as to United States law.

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 350 lawyers, including 65 partners across its six offices in India, which include – New Delhi, Mumbai, Gurgaon, Ahmedabad, Bengaluru and Kolkata