Cyril Amarchand Mangaldas (CAM) advised food delivery company Zomato on its recent INR93.75 billion (USD1.25 billion) IPO, which included an INR3.75 billion sale by multinational tech company Info Edge, an existing shareholder that was also Zomato’s first investor.
J Sagar Associates (JSA) advised Info Edge, while IndusLaw and Latham & Watkins advised the five managers. The IPO, which was a first for an Indian internet unicorn, saw Zomato listed on the NSE India and BSE on 23 July.
CAM’s team comprised partners Yash Ashar, Bharath Reddy, Rohan Banerjee and Gokul Rajan, principal associates Sindhushri Badarinath and Aashima Johur, senior associates Nishkarsh Jakhar and Amitpal Singh, and associates Aniran Ghoshal and Shachi Singh.
JSA’s team comprised partner Rohitashwa Prasad and associate Aishwarya Abhijit. Partners Kumarmanglam Vijay and Manish Mishra advised on taxation aspects.
IndusLaw’s team comprised partners Manan Lahoty and Abhiroop Lahiri, principal associates Abhyuday Bhotika and Priyadarshini Rao, and associates Pooja Maloo, Geethanjali Jujjavarapu, Kamiya Marwah and Medhashree Verma.
Latham & Watkins’ team was led by its Singapore-based partner Rajiv Gupta, and associates Esha Goel and Elisabeth Ong. US-based partners Les Carnegie and Nabil Sabki, and associate John Reinert also advised, while New York-based partner Lee-Lim Jiyeon advised on tax matters.
The net proceeds from Zomato’s IPO, which was oversubscribed 38 times, will be used for funding growth initiatives and for general corporate purposes.