Cyril Amarchand Mangaldas acted as Indian legal counsel to AceVector Limited on its initial public offering of equity shares of face value INR 1 each aggregating to INR 4,200.00 million comprising a (i) fresh issue aggregating to INR 2,870.00 million, and (ii) offer for sale aggregating to INR 1,330.00 million. AceVector, directly and indirectly through its subsidiaries, operates an asset-light digital commerce ecosystem consisting of data, technology and AI-driven businesses-value e-commerce marketplace, e-commerce enablement software as a service and consumer brands.
The firm also advised the Starfish I Pte. Ltd., a SoftBank entity, (“Promoter Selling Shareholder”) on its participation in the offer for sale component of the initial public offering.
The book running lead managers of this IPO were IIFL Capital Services Limited (formerly known as IIFL Securities Limited), CLSA India Private Limited and Systematix Corporate Services Limited.
The transaction team advising the Company was led by Gokul Rajan, Partner (Regional Co-Head – Capital Markets – North); Aashima Johur and Amitpal Singh, Partners; with support from Aditya Singh, Senior Associate; Anjini Ganguly, Mahima Aggarwal and Soumya Mohanty, Associates.
Team advising the Promoter Selling Shareholder was led by Abhiroop Lahiri, Partner; with support from Abishek Sankar, Senior Associate; and Nikshetaa Jain, Associate.
Bharath Reddy, Partner; with support from Dipti Khatri, Principal Associate; Abhishek Gabriel, Senior Associate Designate and Aarav Prasad, Associate; advised on employment aspects.
