The Amarchand Mangaldas Team led by Mumbai based Partners Yash Ashar and Gaurav Gupte acted as domestic legal counsel for Citi with drafting responsibility of share trade agreement in the Offer for Sale (OFS) by promoters of Blue Dart Express Limited. Citi acted as the stock broker to undertake the OFS. The OFS constituted of 1,431,937 equity shares of INR 10 each of Blue Dart Express Limited at a price priority basis with a floor price of INR 1720 by DHL Express (Singapore) Pte Ltd.

OFS mechanism was recently introduced to enable listed Indian companies comply with the 25% mandatory public shareholding.