Legal firm VERTICES PARTNERS has advised the promoters and promoter group of Glass Wall Systems (India) Limited on the company’s proposed initial public offering, which includes a fresh issue of equity shares worth up to Rs 4,278.90 million (USD 44.58 million).
The proposed IPO marks an important capital markets exercise for Glass Wall Systems as the company looks to access public-market capital and strengthen its position in the glass manufacturing sector. The proposed fresh issue is also expected to support the company as it moves towards a wider base of public-market investors.
VERTICES PARTNERS Leads Promoter Advisory
The transaction was led by Vinayak Burman, Founder and Managing Partner, VERTICES PARTNERS, along with Partner Vishal Mehta and Associate Darshan Chheda.
Commenting on the engagement, Burman said VERTICES PARTNERS was pleased to advise its long-standing clients, the promoters and promoter group of Glass Wall Systems, on the proposed IPO. He added that the transaction reflects the company’s growth and its efforts to access the capital markets.
Khaitan & Co. represented Glass Wall Systems (India) Limited in the proposed transaction. The engagement was led by Partners Gautham Srinivas and Sathvik Ponnappa, with support from Principal Associate Sanjeev Chowdhary and Senior Associate Vanshika Chaudhry.
JSA Advises Book Running Lead Managers
The book running lead managers, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited, were represented by JSA Advocates & Solicitors.
The JSA team was led by Partners Arka Mookerjee, Parcheta Bhattacharya, Anshul Bansal and Kairav Parikh. Senior Associate Vatsla Varandani and Associates Palak Karundia, Aditi Khandal and Sharad Panwar were also part of the team.
Hogan Lovells acted as international legal counsel to the BRLMs. The engagement was led by Biswajit Chatterjee, Head of the India Practice and Dubai Office Managing Partner, with Counsel Kaustubh George and Associate Komal Israni supporting the matter.
Proposed IPO Adds to VERTICES PARTNERS’ Capital Markets Work
The proposed Glass Wall Systems IPO adds to VERTICES PARTNERS’ work in the capital markets space and its advisory engagements with businesses and promoter groups seeking access to institutional and public capital.
The firm’s team advised the promoters and promoter group through the proposed transaction, bringing together its corporate and capital markets advisory capabilities.
For Glass Wall Systems, the proposed IPO represents a step towards accessing the public capital markets as it looks to build on its position in the glass manufacturing sector. The fresh issue of up to Rs 4,278.90 million would provide the company with an avenue to raise capital from public-market investors, subject to the completion of the applicable IPO process and regulatory requirements.
-By Shivani Solanki
