SAM advises Udaipur Cement Works Limited on the Rights Issue of equity shares aggregating to ₹448.43 Crore

Shardul Amarchand Mangaldas advised Udaipur Cement Works Limited (“Issuer”) on the Rights Issue of 24,91,27,853 equity shares. The deal was valued at ₹ 448.43 crore and the rights equity shares are proposed to be listed on the BSE Limited on 17 July 2023.

Udaipur Cement Works Limited is a part of the 'JK Organisation,' a business conglomerate with presence in the fields of cement, tyre, paper, agriculture genetics, dairy products, education etc. and witnessed the issue being subscribed over 32 times.

The Transaction team was led by Prashant Gupta, Partner, NP Head - Capital Markets; Sayantan Dutta, Partner; Trishita Dasgupta, Principal Associate; Ankur Verma, Senior Associate; Sridutt Mishra, Associate; and Megha Mehta, Associate.

Khaitan & Co (Delhi) advised JM Financial Limited (“Lead Manager”) on the legal aspects of the deal.

About Shardul Amarchand Mangaldas & Co.:

Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance, and projects & infrastructure.

The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, SAM has around 775 lawyers including 149 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.