Cyril Amarchand Mangaldas (CAM), Shardul Amarchand Mangaldas (SAM) and A&O Shearman advised on LEAP India’s INR 2,480 crore IPO.

LEAP India Limited completed its INR 24.8 billion (INR 2,480 crore) initial public offering, comprising a fresh issue of equity shares by the Company and an offer for sale by existing shareholders, including Vertical Holdings II Pte. Ltd., an affiliate of KKR, and EIA KBT Scheme 3. The IPO marks the first IPO in India by a KKR-promoted company. LEAP India is the largest on-demand asset pooling provider in India’s supply chain management sector based on the number of pooled assets, according to the F&S Report.

The IPO was subscribed 8.38 times overall, with the qualified institutional buyers’ portion subscribed 16.84 times.

Cyril Amarchand Mangaldas (CAM) advised LEAP India Limited on its initial public offering of equity shares aggregating to INR 24,800 million.

The transaction team was led by Partner Devaki Mankad (Regional Co-Head – Capital Markets – West) and Partner Anshul Roy, supported by Principal Associate Akash Joshi, Senior Associates Adwait Deshmukh and Abishek Sankar, and Associates Divyanshu Singh, Archit Jain and Harsha Menon.

Shardul Amarchand Mangaldas & Co (SAM) acted as Indian legal counsel to the Book Running Lead Managers — JM Financial Limited, Avendus Capital Private Limited, IIFL Capital Services Limited and UBS Securities India Private Limited in connection with the IPO.

The team was led by Partner Sayantan Dutta, supported by Principal Associate Romit Raja Srivastava and Associates Pavitra Dubey and Anoop Mukundan.

A&O Shearman acted as sole international legal counsel to the underwriters on the INR 24.8 billion Rule 144A/Regulation S IPO.

The team was led by Partners Pallavi Gopinath Aney and Mark Leemen, supported by Serena Upadhyay and Rajshree Agarwal.