From left: Abhinav Kumar, Gautham Srinivas and Yash Ashar
Cyril Amarchand Mangaldas (CAM), TT&A and Khaitan & Co have advised various parties on Indian fintech Pine Labs’ INR39 billion (USD439.5 million) IPO on the NSE and BSE.
CAM advised Pine Labs India on the IPO and the reverse merger of its Singapore holding company into Pine Labs India, including filings before the Naional Company Law Tribunal (NCLT), the Chandigarh bench, the National Company Law Appellate Tribunal in Delhi, and other related regulatory aspects.
“CAM has been working with Pine Labs for several years now. A unique fintech payments company, which enables digital payments for the entire merchant consumer segment,” CAM senior partner Yash Ashar told India Business Law Journal.
“We worked closely on the merger of the Singapore company with the Indian company such that the entire business moved to India. And all through this time we were helping the company prepare for its IPO. It was a fantastic collaboration with our corporate, financial regulatory practice, litigation (court scheme), employment, securities regulatory practice and capital markets team.”
Ashar led the CAM transaction team with partner Aashima Johur, with the support of principal associate Aniran Ghoshal, senior associate Akash Joshi, and associates Rishi Nandkeolyar, Shreya Jain, Aakash Rao, Arjun Badola and Subhajit Chowdhury. The general corporate, NCLT, employment, regulatory and securities teams also assisted.
TT&A advised all individual selling shareholders in the Pine Labs IPO. The allotment of equity shares was completed on 12 November and the shares debuted on the stock exchanges on 14 November.
Partner Abhinav Kumar, managing associate Shubham Sancheti and paralegal Mihika Ambekar led the team from TT&A.
“Whilst it is always challenging to work on a large transaction with high stakes, our extensive experience in advising on similar mandates and our excellent relationship with our clients and our deep understanding of their requirements has helped in ensuring that the requirements of all parties were met to their satisfaction and more importantly the transaction was completed
in a timely manner,” said Kumar, lead partner for TT&A, who spoke exclusively to IBLJ. Khaitan advised the selling shareholders, with executive director Sudhir Bassi, partners Gautham Srinivas, Thomas George, Sathvik Ponnappa leading the team. Principal associates Poorvi M Jain, Sanjeev Chowdhary, senior associate Vanshika Chaudhry and associates Pooja Agarwal and Anubhav Jaiswal provided support.
