Trilegal advised the book running lead managers on the IPO of equity shares by Sai Silks (Kalamandir) Limited (“SSKL”), aggregating to approximately INR 12,009.00 million. SSKL is amongst the top 10 retailers of ethnic apparel, particularly sarees, in south India and operates through four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall.
The syndicate of book running lead managers comprised Motilal Oswal Financial Investment Advisors Limited, HDFC Bank Limited and Nuvama Wealth Management Limited (formerly known Edelweiss Securities Limited).
The proceeds of the IPO are being utilised for capital expenditure for setting up new stores and warehouses, working capital requirements, debt repayment, and general corporate purposes.
The deal team was led by our Capital Markets Partner Richa Choudhary. Other attorneys who supported the deal were Avanti Kale, Counsel; Maitreya Rajurkar and Pooja Sharma, Senior Associates; Aayush Khandelwal, Urmil Shah and Avanti Deshpande, Associates.
Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.
Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.
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