Cyril Amarchand Mangaldas Advised JSW One Platforms Limited on its Pre-IPO Capital Raise
The leading Indian law firm Cyril Amarchand Mangaldas advised JSW One Platforms Limited (JOPL) on its pre-IPO capital raise from multiple investors, including JSW Steel Limited, a JSW group company, affiliate entities of Principal Global Investors LLC, One-Up Financial Consultants, and Satyug Technologies Limited.
The transaction involves an overall round aggregating to approximately INR 500 crores, which was approved to be raised by the board and members of JOPL. Approximately INR 340 crores have been subscribed by the investors in the form of compulsorily convertible preference shares issued by JOPL, with the remaining pool to be subscribed by fresh investors to be identified by JOPL’s board.
Cyril Amarchand Mangaldas acted as legal counsel to JOPL for the transaction and advised on the structure and closing, drafted, negotiated and finalised the share subscription agreements for each investor, and drafted and negotiated the shareholders’ agreement for the transaction.
JOPL is a leading tech-led B2B e-commerce platform that offers an end-to-end ecosystem, including commerce, credit, and fulfilment, to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across India. The funding will help scale JOPL’s credit and logistics capabilities to expand into new markets. Post-completion, JOPL’s valuation will cross the USD 1 billion mark, achieving unicorn status.
The Cyril Amarchand Mangaldas team was led by Soumya Srivastava (Partner), with support from Shashank Ugrankar (Principal Associate) and Samaksh Khanna (Associate). Devaki Mankad (Partner) advised on aspects related to the eventual listing of JOPL.
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