Shiprocket Limited has successfully secured ₹1,617.485 crore through its initial public offering (IPO) of equity shares. This IPO includes both a fresh issue of shares and an offer for sale. The legal advisory for Shiprocket and individual shareholders Saahil Goel, Gautam Kapoor, and Vishesh Khurana was provided by Cyril Amarchand Mangaldas.
The legal team from Cyril Amarchand Mangaldas that guided the company included Senior Partner Yash J. Ashar, Partner Aashima Johur, Principal Associate Mihir Mathur, and Senior Associate Rishi Nandkeolyar. Associates Kanika Bhakhna, Abhinav Singh Chauhan, and Shvabh Chakarwarti also contributed to the transaction. The individual selling shareholders received counsel from Partner Vishal Yaduvanshi, Partner Amitpal Singh, and Associate Ritvik Maheswari. Additionally, Partner Bharath Reddy, aided by Associate Aarav Prasad, played a crucial role in drafting the company’s Employee Stock Ownership Plan (ESOP) scheme.
Khaitan & Co extended their expertise to the selling shareholders, which included entities such as Tribe Capital III, LLC – Series 1, LR India Fund I SICAV-RAIF, AFOS LLC, Agility International Investment, MCP3 SPV, and 500 Startups III, L.P. The transaction team from Khaitan & Co was led by Partner Gautham Srinivas and Partner Vaibhav Mittal, with support from Principal Associate Sanjeev Chowdhary, Associates Mainak Pani and Sarvesh Sharma, and Senior Associate Avinash Gautam.
Furthermore, Shardul Amarchand Mangaldas & Co, along with Latham & Watkins, provided legal advice to the book-running lead managers. These managers included Axis Capital Limited, BofA Securities India Limited, JM Financial Limited, and Kotak Mahindra Capital Company Limited.
Shiprocket is renowned for being an innovative, merchant-focused, API-driven technology platform that facilitates e-commerce transactions for India’s Micro, Small, and Medium Enterprises (MSMEs) and large retailers. Impressively, the offer was oversubscribed by 102.28 times, reflecting strong market interest and confidence in the company’s potential growth.
If you have Deals, Columns, or Press Releases that you would like to see featured on Bar & Bench, please fill out the form available here.
