Manipal Health Enterprises Limited, a prominent name in the Indian healthcare sector, has embarked on a significant financial journey with its initial public offering (IPO) of equity shares worth ₹9,275.216 crore. This offering comprises a fresh issue valued at ₹8,000 crore alongside an offer for sale totaling ₹1,275.216 crore.
Cyril Amarchand Mangaldas Advises Manipal Hospitals
The renowned law firm Cyril Amarchand Mangaldas played a pivotal role in advising Manipal Hospitals on this landmark IPO. The team was spearheaded by Senior Partner Yash J. Ashar and Partner Janhavi Manohar, with substantial contributions from Principal Associate Anjali Menon, Senior Associate Designate Bhaskar Kumar, and Associates Tejaswi Sade, Parameswaran Chidamparam, Siddharth Kaushik, Namita Kaushik, and Mohnish Khandale. Additionally, Reeba Chacko (Senior Partner) and Kota Chandan (Partner) provided expertise on corporate law matters, while Swati Sharma (Partner, Head of Intellectual Property) addressed intellectual property concerns with the support of Sannat Chandna (PA – Designate).
International Counsel and Additional Advisors
International legal counsel for Manipal Hospitals was provided by the esteemed firm Latham & Watkins. Meanwhile, Trilegal extended its expertise to the MEMG Group, including prominent stakeholders Dr. Ranjan Ramdas Pai, Manipal Global Health Services, MEMG International Ltd, and Manipal Education and Medical Group India Private Limited. The firm navigated the complexities of the share purchase agreement, amendments to the shareholder agreement, and other related agreements. The team was led by Partner Vijay Parthasarathi, with support from Associates Prajna Kariappa, Shashwat Raj Solanki, Jahnavi Jayasimha Rao, Vansh Dhoka, and Joseph George. Corporate insights were provided by Partners Harsh Maggon and Ankit Kejriwal, with assistance from Senior Associate Nehal Binani and Associate Dhanush T. Finance matters were handled by Partners Kannan Rahul and Vidhi Sarin, with Counsel Shreya Menon offering support.
JSA Advocates & Solicitors and Other Key Players
JSA Advocates & Solicitors advised the Temasek Group, a key promoter in this IPO. The transaction was overseen by Lead Partner Vikram Raghani, Partner Arka Mookherjee (Capital Markets), and Partner Rishabh Gupta (Corporate), supported by Partner Siddharth Desai, Senior Associate Vaishnavi Vyas, and Associates Prateek Khandelwal, Ayushi Pandit, Pranjal Shorey, and Ankita Iyer.
Shardul Amarchand Mangaldas & Co Provides Counsel
Shardul Amarchand Mangaldas & Co played a crucial role in advising Seventy Second Investment Company LLC, an affiliate of Mubadala Investment Company and a selling shareholder in this IPO. Led by Partner and National Practice Head – Capital Markets Prashant Gupta and Partner Manjari Tyagi, the firm focused on reviewing, negotiating, and finalizing the transaction documentation, with support from Senior Associate Jheel Bhargava and Associate Bhumika Panigrahi.
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Khaitan & Co’s Role in the IPO
Khaitan & Co provided counsel to the book-running lead managers of the IPO, including Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited, UBS Securities India Private Limited, and DBS Bank India Limited. The transaction team was led by Partners Abhimanyu Bhattacharya, Aditya Cheriyan, Chirayu Chandani, and Suman Prabhu, along with Principal Associate Tishita Mukherjee and Senior Associates Hrithik Khurana, Shweta Sivaram, Vanshika Chaudhry, Pooja Agarwal, Mainak Pal, and several associates.
Manipal Hospitals stands as a leading multi-speciality hospital chain in India, with 38 hospitals spread across 19 cities. The IPO proceeds are earmarked for refinancing debts and facilitating strategic expansions, reflecting the organization’s commitment to enhancing healthcare delivery across the nation.
