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Cyril Amarchand Mangaldas Advised Zomato on Raising INR 9,375 Crores through IPO

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Cyril Amarchand Mangaldas team advised Zomato Limited, which is a leading food services platform in India, on its initial public offering (IPO).

The Capital Markets team of Cyril Amarchand Mangaldas advised Zomato on the Transaction. The Transaction team was led by Yash Ashar, Partner & Head – Capital Markets; Bharath Reddy, Partner; Rohan Banerjee, Partner; and Gokul Rajan, Partner; with support from Sindhushri Badarinath, Principal Associate; Aashima Johur, Principal Associate; Nishkarsh Jakhar, Senior Associate; Amitpal Singh, Senior Associate; Aniran Ghoshal, Associate; and Shachi Singh, Associate.

Zomato issued 1,233,552,631 equity shares for cash at a price of INR 76 per equity share, aggregating up to INR 9,375 crores, comprising of a fresh issue of 1,184,210,526 equity shares aggregating up to INR 9,000 crores and an offer for sale of 49,342,105 equity shares aggregating up to INR 375 crores, comprising of 49,342,105 equity shares by Info Edge (India) Limited (the “Offer“). The Offer included a reservation of up to 6,500,000 equity shares aggregating to INR 49.4 crores for purchase by eligible employees of the Company.

This is India’s first unicorn to list on the stock exchanges and one of the largest digital economy companies to list in India. The deal is positioned to lead the way for other e-commerce, digital economy and technology-oriented companies to explore listing in India.

Other advisors involved in the Transaction are:

  • Kotak Mahindra Capital Limited, Morgan Stanley India Private Limited, Credit Suisse Securities (India) Private Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited (Book Running Lead Managers (BRLMs) to the Issue)
  • Latham & Watkins LLP (International legal counsel to BRLMs)

The draft red herring prospectus dated April 27, 2021 (DRHP) was filed with SEBI and the red herring prospectus (RHP) and the prospectus (Prospectus) were filed with SEBI and the Registrar of Companies, NCT of Delhi and Haryana at New Delhi on July 6, 2021 (read with the addendum dated July 11, 2021) and July 19, 2021, respectively.

The Company was listed on NSE and BSE July 23, 2021.

About Cyril Amarchand Mangaldas

India’s Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values going back 104 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has 750 lawyers, including over 130 partners, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.

The firm was recently named in ‘25 Most Innovative Companies of the Year‘ by CII. Also, received “Law Firm of the Year” award at the Asian Legal Business (ALB) India Law Awards 2020 and “Law Firm of the Year, India” at the Asialaw Regional Awards 2020. The firm was recognised as the “Most Innovative National Law Firm of the Year – India for 2020” at the IFLR Asia Awards and voted as the “Employer of Choice for 2020” from India, by the Asian Legal Business.

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Industry-Academia-Government Collaboration is the Need of the Hour: Experts at PanIIT India Event

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  • Ease of investment regulations and enhanced industry funding for research are the top priorities
  • Tamil Nadu CM, M.K. Stalin and J&K LG, Manoj Sinha graced the event as Guests of Honour

PanIIT India, an umbrella body representing the alumni of IITs, organized its flagship event – PI-WOT 2021Global Virtual Technology Summit on September 17th – 18th. The 36 hours long mega event with more than 100 eminent speakers, 15000 delegates and 10+ knowledge sessions witnessed compelling discussions on transformative technology and its adoption to generate empowering solutions for the world. The dialogues were facilitated through engaging verticals of seminars, hackathon competition and a startup showcase.

Shri M.K. Stalin, Hon’ble Chief Minister, Government of Tami Nadu, the Guest of Honour, addressed the event by saying, “IIT has made proud contributions in Tamil Nadu’s growth and stood firmly in finding pioneering solutions. The state has a favorable ecosystem with highly skilled youth, surplus solar power and most number of SEZs making it an ideal place for innovative enterprises. We would want PanIIT to continue to collaborate with us in becoming a technical hub for emerging technology.”

Guest of Honour, Shri Manoj Sinha, Hon’ble Lieutenant Governor, Jammu & Kashmir and an IIT BHU alumnus highlighted the rapid transformation triggered by technology and stressed upon the need for businesses and industries to adapt and keep pace with technological changes. Speaking on the reconstructive power of technology he added, “The days are not far when there wont be any electricity, electric cables or solar panels, as our windows, glass panels and roofs itself will generate electricity. Or the new education apps and modules with the help of artificial intelligence (AI) and robotics, will make the teachers obsolete wherever possible.”

Delivering the grand keynote, Asha Jadeja Motwani, Founder, Motwani Jadeja Family Foundation, shared her thoughts on the reforms required to cultivate the business environment in India. “As an emerging global power, India must accept global corporate norms in the country and partner with global powers like United States or Israel on military front and this is something that the IIT alumni and startups should keep on their radar.” Ashutosh Sharma, Secretary, Department of Science and Technology, Government of India, brought a policy perspective and said, “We need right kind of policies for Science, Technology, and Innovation and we can see that there are encouraging developments taking place at this front.”

After the completion of inauguration ceremony and keynote addresses, the Summit moved on to have dialogues on the key themes of technology – AI, Automation, IoT, Cloud, Virtual Reality, and Digitization via multiple seminars and the involvement of 100+ distinguished experts. In subsequent sessions, experts across sectors deliberated upon the current industry scenario, emerging trends, challenges, and recommendations to foster an enabling environment for deep science and deep tech to solve some of the most critical world issues.

Industry veterans, Kris Gopalakrishnan, Chairman Axilor Ventures, Co-founder Infosys; Desh Deshpande, Life Member, MIT Corporation and K Ananth Krishnan, CTO, TCS stressed upon the need for a deeper collaboration between the industry, academia, and government. Experts also felt that the government must ease out rules for global capital to come to India and highlighted that industry funding for research should increase in future for greater success.

Some of the prominent names from the industry, Dr. Aloknath De, CTO, Samsung R&D India; Irina Ghose, ED, Cloud Solutions, Microsoft, India; Sanjay Kaul, President, APAC & Japan, Service Provider Business, CISCO; Jeyandran Venugopal, CTO, Flipkart; Smita Ojha, Engineering Director, Google Workspace; Abhinav Sinha, Global COO & Chief Product Officer, OYO; Arun Chandavarkar, MD, Biocon Biologics Ltd.; Sumit Gupta, Co-founder and CEO, CoinDCX, were part of the discussions that took place in the two-day virtual affair.

Mr. Krishen K. Dhar, Chairman, PanIIT Alumni India in his address said, “First, I would like to congratulate the winners of Hackathon and Startup Showcase. We hope the winners can bring about empowering change through their innovations. Second, the aim of this summit was to establish dialogues on new & latest technologies and to bring different stakeholders under one roof and encourage collaborations. Through PIWOT 2021, we have been able to advance these objectives and would continue to do so in future as well.

About PanIIT

PanIIT is the umbrella organization of alumni of IIITs around the world, working towards building a knowledge pool of people and resources to address global challenges. It represents over 200,000 graduates from all the IITs, and has active chapters in the US, India, Europe, Canada, Australia and Singapore. With IIT alumnus is top positions in the private and public sector, civil services, research and development, academia, and doing illustrious work, PanIIT has an ambitious agenda to direct its resource pool to undertake impact-making initiatives to create a better tomorrow.

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A Step towards Solving the Oxygen Crisis in Country, Albot Technologies Inaugurates O2 Plant in Pune

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A 500 LPM oxygen plant was inaugurated by Mr. Ajit Pawar, the Deputy Chief Minister of Maharashtra on Friday. The plant has been made operational by Albot Technologies Pvt. Ltd. in collaboration with D.Y. Patil International University (DYPIU) and is installed in the premises of D Y Patil Dnyanshanti School, Akurdi. This marked a monumental milestone towards a future with sufficient oxygen supply. To refresh one’s memory, during the second wave of the pandemic, India had immensely struggled with a rampant oxygen shortage. A sustainable solution to tackle such a critical issue was the need of the hour.

Mr. Ajitdada Pawar cuts the ribbon on Albot Technologies O2 Plant

The list of guests of honour also included the likes of Dr. Sanjay Patil – President, Dr. D.Y. Patil Pratishthan, Mr. Satej Patil – Chairman & Vice President Dr. D.Y. Patil Pratishthan, and Minister of State, Govt of Maharashtra and Dr. Prabhat Ranjan, VC D.Y. Patil International University.

The plant has been engineered to produce over 500 Litres of Oxygen per minute. It employs the well-known Pressure Swing Adsorption (PSA) technique by which the enriched oxygen is generated from the ambient air while filtering out the nitrogen. With the PSA technique, an oxygen purity of 93% can be achieved. Once the oxygen is generated, it can be directly supplied to the hospitals and industrial sectors.

“Our objective is to strengthen the oxygen manufacturing capacity in the nation to forestall the consequences as seen in the second wave of the pandemic. We are viewing this from a multidimensional perspective; enhancing the supply chain while keeping an eye on the evolving demand too,” said Dr. Akash Singh, CEO, Albot Technologies.

Under the Corporate-University collaboration, Albot Technologies has been in a partnership with DYPIU for technology, infrastructure, and healthcare projects.

This collaboration is fueled by the purpose to serve the community in the face of the COVID-19 pandemic and to develop indigenous O2 plant technology for future use under the “Make in India” initiative.

The specialized PSA technique used for this Oxygen plant is a “clean technology“. The raw materials used for this technique are only air and hence there’s no risk of contamination. The oxygen supplied via this plant can be stored for long-term usage and it’s completely safe to use because the chemicals used in the process are non-toxic.

Along with the added advantage of its capacity to produce 500 liters per minute, this O2 plant aims to annihilate India’s oxygen crisis substantially.

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Sirca Celebrates Jashn-e-Rang with Key Partners as they Believe ‘Ghar Hai Aapse’

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Sirca, one of the leading Italian and premium wood coatings brands in India hosted an event for its dealers and distributors family on September 13. The colorful event was carried out by following all COVID protocols, and the company hosted this program to spread positivity among its stakeholders.

Sirca Celebrates Jashn-e-Rang Event

Named Jashn-e-Rang, Sirca organized this event to live up to the companys motto Ghar Hai Aapse With this event, the company made a positive move by showcasing how events can be carried out in a new normal scenario.

Apart from distributors, dealers, and stakeholders, Bollywood beauty Malaika Arora, and singer Khadke Glassy fame Ashok Masti also graced the occasion with their presence. “Even though the global pandemic has taken a toll on the entire business sector in India, Sirca believes in positivity, and we have now celebrated our past achievements by giving rewards and recognition to dealers and distributors. We also inaugurated our new office and manufacturing units, and it is a clear indication that business operations can be done without any toll in this new normal scenario. As the second wave of the pandemic has now waned in India, I strongly hope that all business operations will be bounced back strongly in the nation,” said Apoorv Agarwal, Sirca Joint Managing Director.

“When the pandemic badly affected the world of business, Sirca stood tall as an industry leader. By organizing this event, Sircas exuberance is a huge example and great inspiration for the market, it’s always a pleasure to partner with such a spirited brand,” said Darpan Sharma, CEO & Strategist, DigiStreet.

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