JSA advised Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, JM Financial Limited and SBI Capital Markets Limited in relation to the qualified institutions placement (“QIP”) of Indiabulls Real Estate Limited (“IBREL” or “Company”). It had filed a placement document on February 12, 2022, for issue of equity shares to qualified institutional buyers aggregating to approximately ₹8,650.06 million.
IBREL is a prominent real estate developer in the Mumbai Metropolitan Region (“MMR”) and the National Capital Region (“NCR”) of India. The Company has a diversified presence in residential real estate developments across the income, and price categories and it currently has 11 residential projects and 4 commercial projects in MMR, NCR, Jodhpur, Vadodara, Vizag and Indore in various stages of completion.
On August 18, 2020, the board of directors of the Company approved a scheme of amalgamation (the “Amalgamation”), pursuant to which NAM Estates and other Embassy Entities will merge with the Company. NAM Estates, Embassy One, Summit, Embassy East and EOCDPL, in addition to their respective subsidiaries (together, the “Amalgamating Group”) are engaged in the business of, inter alia, construction and development of real estate projects (both residential and commercial) and related consulting services, related management services etc.
Deal value: USD 113.45 million / INR 8,650.06 million.
JSA team comprised Lead Partner – Arka Mookerjee, Partner – Siddhartha Desai, Principal Associate – Anshu Bansal, Associate – Sourav Modi, Akash Joshi, and Ankesh Kumar.
Akash practices primarily in the area of capital markets and securities. He has advised clients on best possible drafting strategies for offer documents meant for initial public offers and qualified institutions placement.