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JSA Advised Nuvama Wealth Management Limited in regard to Anantam Highways Trust IPO worth ₹4,000 million

JSA Advocates & Solicitors advised Nuvama Wealth Management Limited in relation to the initial public offering of units of Anantam Highways Trust, an infrastructure investment trust, comprising an issuance of units aggregating to ₹4,000.00 million.

As part of the transaction, the InvIT has also acquired seven road assets, which operate on a hybrid annuity model, from Dilip Buildcon Limited and its associates, as well as from certain associates of Alpha Alternatives Holding Private Limited.

The Trust filed its final offer document with SEBI on October 13, 2025, and subsequently listed its Units on the stock exchanges on October 16, 2025.

The JSA team was led by Partner Arka Mookerjee, with support from the Equity Capital Markets team, comprising Partner Siddhartha Desai, Principal Associate Sourav Modi, and Associates Jeebitesh Bhattacharya and Vaishnavi Kokkonda.

JSA Advised SBI Capital Markets, Axis Capital and JM Financial on Canara Robeco IPO

JSA Advocates & Solicitors advised SBI Capital Markets Limited, Axis Capital Limited, and JM Financial Limited, the Book Running Lead Managers, in relation to the initial public offering (IPO) of equity shares of Canara Robeco Asset Management Company Limited.

The IPO comprised an offer for sale by the promoter selling shareholders, Canara Bank and ORIX Corporation Europe N.V., aggregating to ₹13,261.26 million.

The JSA team was led by Partner Arka Mookerjee, with support from the Equity Capital Markets team comprisingPartner Siddhartha Desai, Senior Associate Govind Roy, and Associates Prateek Khandelwal, Aditi Khandal, Bhuvnesh Kumar, and Sharad Panwar.

JSA Advises UnifyApps on its Latest Funding Round Led by WestBridge Capital

JSA Advocates & Solicitors advised Tech UniApps (India) Services Private Limited and its Founder, in connection with UnifyApps’ latest fundraise round.

The round involved investments inter alia by incoming investor WestBridge Capital, few existing investors including ICONIQ Capital and Kamath Technology, and certain co-founders of UnifyApps.

The JSA team was led by Partner Rishabh Gupta with support from Principal Associate Akshath Mithal, andAssociates Tanmayee Shriprasad Apte, Saurabh Chatterji, and Kajal Kashyap.

JSA advises Axis Capital and DAM Capital on the IPO of Euro Pratik Sales Limited

JSA Advocates and Solicitors advised Axis Capital Limited and DAM Capital Advisors Limited, the Book Running Lead Managers, in relation to the initial public offering (IPO) of equity shares of Euro Pratik Sales Limited comprising of an offer for sale by the Selling Shareholders.

The deal is led by Partner Arka Mookerjee, with support from the Equity Capital Markets team comprising Partner Siddhartha Desai, Senior Associate Govind Roy, Associates Prateek Khandelwal, Vaishnavi Kokonda, Bhuvanesh Kumar and Sharad Panwar.

JSA advised Lok Capital and Blue Earth Capital on their investment in GrowXCD Finance

JSA Advocates & Solicitors (JSA) advised Lok Capital IV LLC, Lok Capital Co-investment Trust and Blue Earth Capital AG on their Series B investment in GrowXCD Finance, a Chennai-based company specializing in financial services for the MSME sector. The funding round, which raised USD 22 million, also saw participation from Prosus Ventures and UC Impower.

GrowXCD Finance focuses on enabling financial inclusion by providing tailored credit solutions to micro, small and medium enterprises across India. The Series B investment will further strengthen its capacity to expand its footprint and enhance its digital lending capabilities.

The JSA team was led by Partner Siddharth Mody with support from the Private Equity team comprising Partner, Rohan Kumar, Senior Associate, Tanmayee Sahoo and Associate, Ayush Chaturvedi.

Due diligence was conducted by Partner, Rohan Kumar, along with Senior Associate, Tanmayee Sahoo and Associates, Ayush Chaturvedi, Vidushi Jain, Gavin Pereira, and Prakhar Jain.

Avendus Future Leaders Fund III to invest in IL Jin Electronics (India) Private Limited

JSA Advocates & Solicitors (JSA) is advising Avendus Future Leaders Fund III (Avendus Fund) on its investment in IL JIN Electronics (India) Private Limited (IL JIN), a material subsidiary of Amber Enterprises India Limited, as part of a primary investment round.

IL JIN has entered into definitive agreements with multiple investors for an aggregate investment exceeding INR 1,500 crore, subject to regulatory approvals. The capital raised will enable IL JIN to accelerate its growth plans across the electronics segment, expand manufacturing capabilities, and pursue strategic acquisitions to strengthen its market position in India’s fast-evolving electronics ecosystem.

The JSA transaction team is being led by Partner, Sidharrth Shankar, with support from the Private Equity team comprising Partner, Prakriti Jaiswal and Dhruv Malhotra, Senior Associate, Rishika Agarwal, and Associates, Mahi Jaiswal, Paridhi Khulbe and Kirti Vardhan Singh.

JSA advised Kapiva in raising Series D funding led by 360 ONE and Vertex Growth

JSA advised Adret Retail Private Limited, a Bengaluru-based company that owns popular Ayurveda brand Kapiva, in raising Series D funding. The investment was led by 360 ONE and Vertex Growth, with continued backing from existing investors Vertex Ventures and 3one4 Capital.

The JSA team was led by Siddharth Mody (Lead Partner) with support from Anurag Shrivastav (Partner), Niharika Rao (Senior Associate) and Ayush Chaturvedi (Associate).

JSA Advised State Bank of India on Issue of US$ 500 Million (Approx. ₹42,000 Crore) Bonds and Listing on NSE IX

JSA advised State Bank of India (SBI) in connection with the issue of US$ 500 million (approx. ₹42,000 crore) bonds under its US$ 10 billion Global Medium-Term Note Program.

The Firm also assisted and facilitated the listing of SBI’s bonds on NSE IX (NSE International Exchange), India’s international stock exchange at GIFT City. The transaction highlights SBI’s continued access to global capital markets and strengthens India’s presence on international exchanges.

This US$ 500 Million Reg S marquee US$ bond issuance makes SBI as the first Indian issuer to open the markets after India’s sovereign rating upgrade. SBI became the first issuer to list the US$500 million foreign currency bonds on the NSE International Exchange (NSE IX) after India’s sovereign rating upgrade to ‘BBB’ by S&P, its first one after 18 years.

The maiden listing of the US$ Bonds at NSE IX, the international exchange, enhances market visibility while reinforcing SBI’s commitment to support the vision of strengthening the GIFT City ecosystem as an evolving international financial hub.

The spread at which SBI has raised funds is one of the tightest spreads witnessed by an Indian financial institution, and the best-ever level achieved by an Indian issuer. This successful issuance highlights increased global investor confidence in India’s growth story and SBI’s credit quality, which has lowered borrowing costs for Indian entities.

The JSA team was led by Partners Anish Mashruwala and Uttara Kolhatkar.

JSA Advises Chakr Innovation on USD 23 Million Series C Funding Round

JSA advised Chakr Innovation Private Limited (“Chakr Innovation”)and its promoter Kushagra Srivastava in the Series C round of USD 23 million (approx. INR 193.5 crore) led by Iron Pillar.

Chakr Innovation is a deeptech startup focused on developing clean technology solutions, including emission-reducing devices for diesel generators, and is also working on indigenous energy storage technology aimed at reducing India’s dependence on lithium-ion chemistry. The funds raised in this round will support manufacturing, global expansion, and R&D, including the establishment of a new materials science centre for critical technologies.

The JSA team was led by Lalit Kumar (Partner), Bharati Joshi (Partner), Ruchika and Muskaan Gupta (Associates). The vendor due diligence team included Ruchika, Muskaan Gupta, and Sameer Dahiya (Associates). On the tax aspects of the transaction, Kumarmanglam Vijay (Partner) along with Tejasvi Shukla and Harshita Agrawal (Associates) advised Chakr Innovation.

Panthera Growth Partners – Investment in Flipspaces Technology Labs Private Limited

JSA advised Panthera Growth Partners Pte Ltd in its investment in Flipspaces Technology Labs Private Limited. Founded in 2015, Flipspaces is an interior-design-and-build venture with a strong focus on commercial real estate. Its proprietary software suite integrates space planning, VR walkthroughs, procurement, and execution, creating an end-to-end digital solution for workspace design and execution.

The Company has successfully raised USD 50 million in its expanded Series C funding round with other investors participating in this round include Iron Pillar, Synergy Capital Partners, CE-Invests, and SMBC Asia Rising Fund.

JSA Team
The transaction was led by Siddharth Mody, Partner, with support from the Private Equity team comprising Anurag Shrivastav, Partner, and Shefalika Shekhawat, Associate.