04 Sep 2026
Deal: Trilegal advised Gujarat Themis on its QIP of equity shares aggregating to INR 7.50 billion
07 Sep 2026
07 Sep 2026
Trilegal acted as the legal counsel to Gujarat Themis Biosyn Limited (Gujarat Themis) on its qualified institutions placement (QIP) of equity shares aggregating to INR 7.50 billion.
Gujarat Themis is a fermentation-based pharmaceuticals company and has expertise across fermentation processes, product development and commercial manufacturing. Gujarat Themis is also among the largest manufacturers of Rifamycin intermediates in India and the first to commence commercial production of Rifamycin intermediates.
A notable aspect of the transaction was the proposed utilisation of the QIP proceeds to fund the overseas acquisition of MicroBiopharm Japan Co. Ltd. (MBJ). This presented distinct disclosure and structuring considerations, requiring the transaction to be evaluated at the intersection of Indian capital markets and exchange control regulations. The proposed acquisition is expected to expand Gujarat Themis’ capabilities across specialty APIs, biologics and fermentation-based contract development and manufacturing, while broadening its product portfolio and customer base.
The transaction demonstrates the use of QIPs as an efficient capital-raising route for Indian listed companies to fund strategic overseas acquisitions.
Nuvama Wealth Management Limited, 360 One WAM Limited and Saffron Capital Advisors Private Limited were the placement agents.
The Trilegal Capital Markets team advising on the matter was led by Partners: Richa Choudhary and Maitreya Rajurkar; and comprised Counsel: Avanti Kale; Senior Associate: Aayush Khandelwal; and Associates: Siddhant Mishra, Naman Shah and Adya Singh.
About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With 161 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,300 professionals across its Mumbai, Delhi, Gurugram, Bengaluru, Chennai, Pune, and GIFT City offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Law Firm of the Year at the ET Global Legal Awards 2026, Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com.
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