2024 (the “Letter of Offer”) for the issue of 1,19,98,755 partly paid-up equity shares of face value ₹10 each at an issue price of ₹375.00 per equity share to the eligible equity shareholders of the Company in the ratio of 1:3, for raising ₹449.95 crores (the “Rights Issue”), on a fast-track basis. The Company is an R&D-focused API company based in India, engaged in the manufacturing and development of active pharmaceutical ingredients and offering services, including contract research and manufacturing services for the development of semi-synthetic new chemical entity APIs. The funds proposed to be raised through the Rights Issue are in multiple calls, and the application money per share is ₹131.25 per equity share, aggregating to ₹157.48 crores. The issue opened on May 28, 2024, and closed on June 11, 2024 (the “Transaction”). The equity shares of the Company issued under the Rights Issue will be listed on BSE and NSE for trading purposes. DSK Legal assisted the Company inter alia in (i) conducting diligence and drafting the Letter of Offer; (ii) drafting all board resolutions, shareholder resolutions, publicity guidelines, and intimations to the stock exchanges required in relation to the Transaction; (iii) reviewing and commenting on the issue agreement, registrar agreement, banker to the issue agreement, and monitoring agency agreement; and (iv) reviewing and commenting on the standard certificates, auditor certificates, application forms, and publicity materials. The deal team consisted of the following:

• • Avinash Poojari (Associate Partner) and Akanksha Dubey (Principal Associate).
  • Ajay Shaw (Partner) and Gaurav Mistry (Partner) acted as engagement partners.
  • Anand Desai (Managing Partner) acted as the relationship partner.

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