J. Sagar Associates (JSA) advised Info Edge (India) Limited (Naukri.com) as a selling shareholder in the IPO of Zomato, which listed on 23rd July. The size of the IPO was Rs. 9,375 crore, which included a sale by Info Edge of its shares worth Rs. 375 core. Info Edge was the very first investor in Zomato, and it is a matter of great pride and satisfaction for JSA to have advised Info Edge on its investments in Zomato from the very first in August 2010.
The deal value of the transaction is approx. $1,259 million.
Zomato’s IPO is the first Indian internet unicorn to make its stock market debut. The issue, which was over subscribed by 38 times, is the largest IPO in India since March 2020.
JSA team comprised of Lead Partner – Rohitashwa Prasad and Associate – Aishwarya Abhijit.
Partners – Kumarmangalam Vijay & Manish Mishra advised on taxation aspects.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.
Manish has more than 23 years of experience in Indirect taxation across Industry, Consulting and law firms.