Institutional placement of units by the National Highways Infra Trust.
JSA acted as counsels to lead managers for the INR 14,300 million institutional placement of units by National Highways Infra Trust, to domestic and international investors. This was the first ever institutional placement of units by an InvIT in India. The proceeds of the institutional placement are proposed to be used as part funding for the acquisition of three additional road assets. The institutional placement witnessed strong demand from existing and new investors. The institutional placement was part of a three-pronged transaction, consisting of the institutional placement, a preferential allotment of units to NHAI (the sponsor) and a INR 15,000 million public issue of NCDs.
The JSA team has been associated with the NHAI InvIT programme since its inception, having previously acted as the counsel to the Trust and had extensively assisted with the establishment of the InvIT and its registration with SEBI. The listing event for the NCDs was graced by the Union Minister for Road Transport and Highways, Shri Nitin Gadkari. The efforts of the JSA team has been publicly acknowledged by the InvIT and appreciated at the listing event.
JSA Transaction Team Comprised Lead Partner – Arka Mookerjee, Partner – Pracheta Bhattacharya, Associate – Sourav Modi, Associate – Ankesh Kumar, and Junior Associate – Jeebitesh Bhattacharya.
Arka’s practice area covers primarily equity capital markets issuances which covers a wide range of products such as Initial Public Offerings, Rights Issues, Qualified Institutions Placements, Initial Public Offering of Infrastructure Trusts and foreign currency convertible bonds.
Pracheta practices in the areas of Capital Markets (IPO, QIP, Rights Issues, Offer for Sale, Preferential allotments, buyback in listed space, ADR, GDR etc.).
Sourav specialises in the area of capital markets and securities. He has advised issuers, investment bankers and underwriters in various equity and debt capital markets transactions involving Infrastructure Investment Trusts (InvITs), IPOs, QIPs, Rights Issuances and bond issuances.