Law firms CAM, SAM, Sidley Austin, and Trilegal take action in relation to Lenskart's ₹2,150 crore IPO.
Lenskart's Initial Public Offering (IPO) Secures Multiple Legal Advisors
Lenskart, the online eyewear retailer disrupting the traditional market since 2010, is set to go public with a significant IPO. The company has enlisted the services of several prominent legal advisors to navigate this significant milestone.
Cyril Amarchand Mangaldas (CAM) is advising Lenskart itself, with Yash J. Ashar (Senior Partner) and Aashima Johur (Partner) leading the transaction team. CAM also handles the legal matters for the promoter selling shareholders, Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, under the guidance of Partner Gokul Rajan.
Shardul Amarchand Mangaldas (SAM) and Sidley Austin are acting as domestic and international counsels respectively for the book running lead managers (BRLMs) of the IPO.
Trilegal represents the investor selling shareholders, including SVF II Lightbulb, Schroders Capital Private Equity Asia, PI Opportunities Fund - II, Macritchie Investments, Kedaara Capital Fund, and Alpha Wave Ventures. Brajendu Bhaskar (Partner), with support from Malika Grewal (Counsel), Pratyusha Dasgupta, and Tushar Chitlangia, lead the transaction team at Trilegal for the institutional selling shareholders.
CAM’s role for Lenskart involves advising on the entire IPO process, including preparing disclosures, regulatory compliance with SEBI, and structuring the fresh issue and offer for sale transaction. For the promoter selling shareholders, CAM handles legal matters related to their share sale as part of the offer for sale in the IPO.
Shardul Amarchand Mangaldas and Sidley Austin counsel the lead managers on regulatory and transactional compliance for their role managing the offering. Trilegal’s role is to safeguard legal interests and handle compliance concerning the investor selling shareholders who are offloading equity in the IPO.
The IPO comprises a fresh issue of equity shares aggregating to ₹2,150 crore and an offer for sale of 13.2 crore equity shares by selling shareholders. Kotak Mahindra Capital Company, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services are the BRLMs for Lenskart's IPO.
Bharath Reddy (Partner) advised on the employment law related aspects of Lenskart's IPO. Lenskart offers a wide selection of frames and lenses at competitive prices, emphasizing convenience and technology with features like virtual try-on tools and home eye-exams.
Lenskart Solutions Limited has filed a Draft Red Herring Prospectus for an initial public offering. Manoj Bhargava (Partner) leads the transaction team at Cyril Amarchand Mangaldas for the BRLMs in Lenskart's IPO.
[1] Livemint.com, "Lenskart IPO: Legal advisors for the eyewear retailer's initial public offering", 13th May 2023. [2] Economic Times, "Lenskart IPO: Here's who's advising the eyewear retailer on its public debut", 15th May 2023.
In the context of Lenskart's Initial Public Offering (IPO), Cyril Amarchand Mangaldas (CAM) is advising the company on the entire IPO process, including regulatory compliance, while also handling the legal matters for the promoter selling shareholders. Simultaneously, Trilegal represents the investor selling shareholders, ensuring protection of their legal interests for the IPO.
