JSA Advocates & Solicitors, SAM advised on INR 6,000 Crore IPO of Raajmarg Infrastructure Investment Trust.
Raajmarg Infrastructure Investment Trust (InvIT), sponsored by NHAI, completed an IPO of units aggregating to INR 6,000 crores, the largest road-sector InvIT IPO and the fastest listing by an InvIT from receipt of SEBI registration.
The InvIT will acquire concessioning rights of five toll road assets from NHAI through a combination of equity and debt.
JSA advised NHAI, Raajmarg Infra Investment Managers Private Limited, and Raajmarg Infrastructure Investment Trust on the IPO and on the setup of the InvIT and Investment Manager.
The deal team included Partners Arka Mookerjee, and Pracheta Bhattacharya, Principal Associate Sourav Modi, and Associates Jeebitesh Bhattacharya, Bhavna Sancheti, Ayushi Pandit, Aditya Shendye, Palak Karundia, Bhuvnesh Kumar, and Sharad Panwar.
SAM acted as legal counsel to the book running lead managers — SBI Capital Markets Limited, ICICI Securities Limited, Axis Capital Limited, and Motilal Oswal Investment Advisors Limited.
The team was led by Partners Nikhil Naredi and Rohit Tiwari, with Principal Associate Saloni Raj Tyagi and Associates Pritha Bhangale and Shruti Maheshwari.
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