Sobha Limited has successfully completed a significant rights issue, raising ₹19,990.28 million through the issuance of 12,107,981 partly paid-up equity shares. Cyril Amarchand Mangaldas (CAM) provided pivotal legal and strategic support throughout the fast-track process.
This rights issue was executed in alignment with Regulation 99 and Part B of Schedule VI under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The offer letter was submitted to SEBI and the stock exchanges on June 12, 2024, and the issue was oversubscribed by 1.4 times.
CAM’s Capital Markets team, led by Senior Partner Yash Ashar and Partner Ramanuj Kumar, with Associates Ayana Banerjee and Zeb Burk, played a crucial role in the transaction. JM Financial Limited and BOB Capital Markets Limited served as the book-running lead managers, while Hogan Lovells Lee & Lee provided international legal counsel for the lead managers. The deal was signed on December 19, 2023, and concluded on July 19, 2024.
