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JSA advises IDFC FIRST Bank on its fundraise of Rs 7,500 crores

JSA advised IDFC FIRST Bank on its fundraise from Warburg Pincus and Abu Dhabi Investment Authority (ADIA) aggregating upto Rs 7,500 crores. The fundraise is subject to shareholder and regulatory approvals.​

IDFC FIRST Bank (“Bank”) is a new-age private bank in India, with a vision to create a world class bank in India, focused on ethical, digital, and social good banking. The Bank operates 971 branches spread over 60,000 locations including cities, towns, and villages across India. While it has a physical network, it is built as a digital first bank in approach, scale and scope. The Bank is a full suite universal bank offering services across Retail, MSME, rural, corporate, wealth management, private banking, Fastag, cash management, NRI and treasury solutions.

The Transaction team comprised Lead Partner, Vikram Raghani, Partner, Bir Bahadur Singh Sachar, Principal Associate, Sushim Aryan, Associates, Tavishi Chandra, Parth Mehta and Samika Pachouly & Company Secretary, Niki Shah.

The Banking team comprised Partner, Anish Mashruwala and Pratish Kumar, Principal Associate, Karan Abichandani & Associates, Anmol Narang, Madhur Bhatt and Arpita Mittal.

Media coverage – The Financial Express

JSA Advised Book Running Lead Managers in relation to the proposed Initial Public Offering of Prozeal Green Energy Limited

Initial Public Offering of Prozeal Green Energy Limited.

JSA is advising Nuvama Wealth Management Limited and SBI Capital Markets Limited, the book running lead managers in relation to the proposed initial public offering of equity shares of Prozeal Green Energy Limited (the “Issuer”), the Issuer is planning a fresh issue of up to ₹ 3500.00 million and an offer for sale of up to ₹ 3500.00 million.

Our Transaction Team comprises of Lead Partner, Madhurima Mukherjee Saha, Partner, Sagar Batra, Senior Associate, Richa Prasad and Associates, Anshuman Singh, Priyanshi Bajaj and Rachit Munjal.

Deal Value – INR 7 billion.

Initial Public Offering of Studds Accessories Limited

JSA is advising IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and ICICI Securities Limited, the book running lead managers, in relation to the proposed initial public offering of equity shares of Studds Accessories Limited (the “Issuer”), by way of an offer for sale of up to 7,786,120 equity shares by Promoters and certain other shareholders. Studds Accessories Limited designs, manufactures, markets and sells two-wheeler helmets and other accessories under the ‘Studds’ and ‘SMK’ brands. It is the world’s largest two-wheeler helmet player by volume (2024). The draft red herring prospectus was filed with the Securities and Exchange Board of India and the Stock Exchanges on March 27, 2025.

Our transaction team comprised Lead Partner, Madhurima Mukherjee Saha, Partner, Anuj Pethia, Senior Associate, Ambuj Gupta and Associates, Harshita Agarwal, Shashwat Sharma and Shivani Agrawal.

Media CoverageLive mint

Proposed offering of units by Anantam Highways Trust

JSA is advising Nuvama Wealth Management Limited in relation to the proposed initial public offering of units of Anantam Highways Trust (“Trust”), an infrastructure investment trust, comprising an issuance of units aggregating up to ₹ 4,000.00 million (“Issue”). As part of the transaction, the InvIT will also acquire nine road assets, operating on a hybrid annuity model, from Dilip Buildcon Limited and its associates, and from certain associates of Alpha Alternatives Holding Private Limited.

The Trust has filed its draft offer document with SEBI on March 29, 2025.

Our Transaction Team Comprised Lead Partner, Arka Mookerjee, Partners, Siddhartha Desai and Pracheta Bhattacharya, Principal Associate, Sourav Modi and Associates, Ankesh Kumar, Jeebitesh Bhattacharya and Vaishnavi Kokkonda.

Deal Value – INR 4 billion.

Institutional Placement of Units by National Highways Infra Trust

JSA advised SBI Capital Markets Limited, Axis Capital Limited, HDFC Bank Limited, and ICICI Securities Limited in relation to the institutional placement of units of National Highways Infra Trust (an InvIT sponsored by NHAI) aggregating to ₹ 50,534.81 million. The transaction also included a preferential issuance of units to NHAI and Employees Provident Fund Organisation.

As part of the transaction, National Highways Infra Trust has also acquired the concession rights over certain road assets of aggregate length of approximately 818.83 kms at an enterprise value of over Rs. 18,000 crores, making it the largest monetization by NHAI and one of the largest transactions in the history of Indian road sector. This was the fourth round of fund raising by National Highways Infra Trust with JSA being a part of all four deals.

Our Transaction Team Comprised Lead Partner, Arka Mookerjee, Partner, Pracheta Bhattacharya, Senior Associate, Sourav Modi and Associates, Ankesh Kumar and Jeebitesh Bhattacharya.

Deal Value – INR 50,534 Million.

Qualified institutions placement of Restaurant Brands Asia Limited

JSA advised Motilal Oswal Investment Advisors Limited in relation to the qualified institutions placement (“QIP”) of equity shares of Restaurant Brands Asia Limited (formerly known as Burger King India Limited) (“Issuer”). The QIP was for issuance of 83,333,333 equity shares of the Issuer, aggregating to approximately ₹ 5,000 million.

The Issuer is a prominent player in the quick service restaurant industry in India. As the national master franchisee of the BURGER KING® brand in India, they have exclusive rights to develop, establish, operate and franchise Burger King branded restaurants in India.

The deal was led by Partners Madhurima Mukherjee Saha and Shivali Singh with support from Associates, Kumar Shubham, Aryaman Singh and Devina Chopra.

Media CoverageNDTV Profit