Shardul Amarchand Mangaldas & Co acted as Indian legal counsel to Navkar Corporation Limited in its Initial Public Offering (IPO). The offer opened on August 24, 2015 and closed on August 26, 2015. The deal was closed on September 4th, 2015.

The Shardul Amarchand Mangaldas team for the transaction was led by Mr. Prashant Gupta, Partner, and it included Mr. Sayantan Dutta, Partner, Ms. Shraddha Krishnan Dash and Mr. Devi Prasad Patel, Associates.

Navkar Corporation Limited is a Mumbai based operator of container freight stations and is located in Panvel. The Company’s IPO involved sale of 38,709,676 equity shares of face value of INR 10 each, aggregating to INR 600 crore. The IPO comprised of a fresh issue of INR 510 crore and an Offer for Sale (OFS) of INR 90 crore by Sidhhartha Corporation Private Limited, a member of its promoter group, at a price of INR 155 per equity share.

The transaction parties consisted of Navkar Corporation Limited as the Issuer, and Axis Capital Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited as the Underwriters. S&R Associates and Jones Day acted as the Indian and international legal counsels to the Underwriters, respectively.