Duane Morris & Selvam LLP acted as the U.S. counsel to ICICI Securities and Nomura Financial Advisory & Securities (India) in their role as the book running lead managers on the recent sale of approximately Rs. 12,000 million (US$143 million) of shares in Sansera Engineering Limited in a qualified institutions placement (QIP), including concurrent private placements outside India.
Sansera Engineering is an engineering-led manufacturer of complex and critical precision-engineered forged and machined components across automotive and non-automotive sectors. Its shares are listed on the BSE and NSE.
Duane Morris & Selvam’s team was led by Jamie Benson, the head of the firm’s U.S. capital markets, U.S. venture capital and India practices. The deal team also included Ananth Balaji Sundararaman, senior associate, Ming Ze Yeo, associate, and Alison Lewis, associate.
Commenting on this deal, Jamie Benson, stated:
“I was pleased we advised on this deal, having also advised the BRLMs on the sale of Rs. 12,830 million (US$173 million) of shares in Sansera Engineering’s in an IPO in India and concurrent private placements outside India, including in the U.S., in 2021.”
Khaitan & Co acted as Indian counsel to Sansera Engineering and JSA acted as Indian counsel to ICICI Securities and Nomura Financial Advisory & Securities (India).