IndusLaw has advised Sheela Foam on the company’s qualified institutional placement (QIP) of equity shares, raising USD167 million.
Sheela Foam will use the funds raised from the QIP to partially finance its proposed acquisition of Kurlon Enterprise.
The transaction team at IndusLaw comprised partners Abhiroop Lahiri and Puneet Passi, and associates Harita Putrevu, Aditya Singh, Arnab Roy and Prakhar Jain.
The Linklaters team in Singapore acted as international legal counsel, while Khaitan & Co advised on India laws for JM Financial and Nomura Financial Advisory and Securities (India), which were the placement agents for the QIP.
Sheela Foam, known for its flagship mattress brand Sleepwell, is a well-established manufacturer of foam-based home care products in India.