JSA advised Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, JM Financial Limited and SBI Capital Markets Limited in relation to the qualified institutions placement (“QIP”) of Indiabulls Real Estate Limited (“IBREL” or “Company”). It had filed a placement document on February 12, 2022, for issue of equity shares to qualified institutional buyers aggregating to approximately ₹8,650.06 million.
IBREL is a prominent real estate developer in the Mumbai Metropolitan Region (“MMR”) and the National Capital Region (“NCR”) of India. The Company has a diversified presence in residential real estate developments across the income, and price categories and it currently has 11 residential projects and 4 commercial projects in MMR, NCR, Jodhpur, Vadodara, Vizag and Indore in various stages of completion.
On August 18, 2020, the board of directors of the Company approved a scheme of amalgamation (the “Amalgamation”), pursuant to which NAM Estates and other Embassy Entities will merge with the Company. NAM Estates, Embassy One, Summit, Embassy East and EOCDPL, in addition to their respective subsidiaries (together, the “Amalgamating Group”) are engaged in the business of, inter alia, construction and development of real estate projects (both residential and commercial) and related consulting services, related management services etc.
Deal value: USD 113.45 million / INR 8,650.06 million.
JSA team comprised Lead Partner – Arka Mookerjee, Partner – Siddhartha Desai, Principal Associate – Anshu Bansal, Associate – Sourav Modi, Akash Joshi, and Ankesh Kumar.
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.
Siddhartha specializes in public and private Capital Market transactions. He has advised various issuers, underwriters and selling shareholders on equity offerings such as initial public offerings, rights issues, qualified institutions placements, institutional placement programmes & infrastructure investment trusts (InvITs), and debt offerings such as non-convertible debenture issuances.