Shanti Inorganics Limited, an Ahmedabad-based manufacturer specializing in sulfur-based inorganic chemicals, has successfully raised ₹47.24 crore through an initial public offering (IPO) of equity shares. This significant financial development was facilitated by the legal expertise of Rajani Associates, who provided comprehensive advisory services throughout the IPO process.
Rajani Associates played a pivotal role in the IPO by advising both Shanti Inorganics and the book-running lead manager, Vivro Financial Services Private Limited. The law firm’s responsibilities encompassed conducting thorough legal and secretarial diligence, an essential step to ensure compliance with regulatory requirements.
Additionally, the team at Rajani Associates was tasked with drafting, reviewing, and finalizing every chapter of the Draft Red Herring Prospectus, the Red Herring Prospectus, and the final Prospectus, which are critical documents for any IPO. Their work extended to preparing and finalizing responses to queries raised by the National Stock Exchange (NSE), thereby ensuring a smooth regulatory review process.
The firm also assisted Shanti Inorganics and the Book Running Lead Manager (BRLM) in various aspects of the issue. This included preparing and finalizing all necessary agreements and ancillary documents, which are vital for the successful execution and closure of the IPO.
The Rajani Associates team was led by Senior Partner Sangeeta Lakhi, with significant contributions from Associate Sommya Khandelwal. Their combined expertise ensured that all legal facets of the IPO were meticulously handled, contributing to the successful capital raise by Shanti Inorganics.
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The IPO marks a significant milestone for Shanti Inorganics, enhancing its financial capacity to expand operations and further establish its footprint in the inorganic chemicals market.
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