JSA Advocates & Solicitors (JSA) advised the merchant bankers, ICICI Securities Limited, Morgan Stanley India Company Private Limited and JM Financial Limited in the initial public offering of Shadowfax Technologies Limited aggregating to INR 19,072 million (USD 208.1 million).
The IPO was a combination of a fresh issue by Shadowfax and an offer for sale of by shareholders including early stage investors, Flipkart, Eight Roads, International Finance Corporation, Qualcomm Asia Pacific Pte. Ltd., Nokia Growth Partners IV, L.P., NewQuest Asia, and funds of Mirae Asset.
The JSA Capital Markets Team was led by Arka Mookerjee, Partner; with support from Pracheta Bhattacharya, Partner; Sourav Modi and Kairav Parikh, Principal Associates; Vatsla Varandani, Senior Associate; and Associates; Jeebitesh Bhattacharya, Aditya Shendye, Shreya Sharma, Palak Karundia, Ritu R Jaiswal and Sharad Panwar.
Arka Mookerjee is a Partner and Co-Head of the Equity Capital Markets practice, with over 21 years of experience advising on India’s most complex and high-value transactions. Widely recognised for pioneering mandates—including India’s first QIP and InvIT IPO—he represents issuers, underwriters and investors across capital markets and investment structures. Arka actively engages with regulators and industry bodies, playing a key role in shaping India’s evolving capital markets framework.