Shardul Amarchand Mangaldas & Co. Advises on INR 60,000 Million IPO by Raajmarg Infra Investment Trust

Shardul Amarchand Mangaldas & Co. (SAM) acted as legal counsel to the book running lead managers, namely SBI Capital Markets Limited, ICICI Securities Limited, Axis Capital Limited, Motilal Oswal Investment Advisors Limited, in connection with the initial public offering of units by Raajmarg Infra Investment Trust aggregating to approximately INR 60,000 million.

The IPO marks the largest public offering in road sector in India and was oversubscribed nearly 14 times. The transaction involved the listing of units of Raajmarg Infra Investment Trust on BSE Limited and National Stock Exchange of India Limited.

The Trust is sponsored by the National Highways Authority of India and holds an initial portfolio of five toll road assets located across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, operating under the toll-operate-transfer model.

The SAM transaction team was led by Nikhil Naredi, Partner, and Rohit Tiwari, Partner, with support from Saloni Tyagi, Principal Associate; Pritha Bhangale, Associate; and Shruti Maheshwari, Associate.

About SAM:

Shardul Amarchand Mangaldas & Co. (SAM), founded on a century of legal achievements, is one of India’s leading full-service law firms with the ISO/IEC 27001:2022 certification - the latest global benchmark for Information Security Management Systems. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & restructuring, dispute resolution, international commercial arbitration, capital markets, banking & finance, tax, intellectual property, data protection and data privacy, white collar crime, technology law, infrastructure, energy and project finance.

With the full suite of Harvey AI functionalities, 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, the Firm has over 950 lawyers, including 184 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.