IndusLaw, JSA, Duane Morris advise on Affle QIP

Indus Law, J Sagar Associates, Duane Morris & Selvam advise on Affle QIP

IndusLaw advised NSE India and BSE-listed Affle (India) on its recent ₹6 billion (US$81.7 million) qualified institutional placement (QIP), while J Sagar Associates (JSA) and Duane Morris & Selvam advised the three book running lead managers in the deal.

The QIP, which closed on 4 May, was one of the first market fundraises by a listed mobile advertising tech company.

IndusLaw’s team comprised partners Vishal Yaduvanshi and Abhiroop Lahiri, senior associate Mansi Jhaveri, and associates Ancha Venkata Samarth and Mihir Mathur.

JSA’s team included partners Rohitashwa Prasad, Arka Mookerjee and Siddhartha Desai, while Duane Morris & Selvam’s team was led by its Singapore-based partner Jamie Benson.

The proceeds of the issue are to be used for general purposes including augmenting long-term cash resources, funding growth opportunities and payment of outstanding borrowings.