CAM advises the placement agents in relation to the sale of shares of InterGlobe Aviation

Cyril Amarchand Mangaldas advised Goldman Sachs (India) Securities Private Limited (Goldman Sachs), J.P. Morgan India Private Limited (JP Morgan) and Morgan Stanley India Company Private Limited (Morgan Stanley); (collectively “the Placement Agents”) in relation to the  sale of shares of InterGlobe Aviation Limited by Shobha Gangwal. 

The Capital Markets Practice of Cyril Amarchand Mangaldas advised the Placement Agents on the transaction. The transaction team was led by Gokul Rajan, Partner & Head - Norther Region Markets Practice; with support from Anuj Pethia, Consultant, and Adwait Deshmukh, Trainee-Legal.

As a part of the transaction, the Placement Agents facilitated the sale of 15.6 million shares of InterGlobe Aviation Limited, by Shobha Gangwal, wife of Mr. Rakesh Gangwal, the co-founder and promoter of InterGlobe Aviation Limited, through a share sale on the stock exchanges.

The reported aggregate value of the transaction is INR 2944 crore.

Other Parties and Advisors to the transaction included Latham & Watkins LLP (acted as international legal counsel for banks).

The Transaction was signed on 15th February 2023; and closed on 17th February 2023.

About Cyril Amarchand Mangaldas:

Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.

The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.