Khaitan & Co advised Indian online clothing retailer Koovs on its Rs 224.5 crore listing on London’s Alternative Investment Market, the London Stock Exchange’s smaller cousin for lower-cap companies, with English law firms Osborne Clarke, Foot Anstey and Macfarlanes.
Khaitan Delhi corporate partner Rajat Mukherjee, with partner Nikhilesh Panchal and executive director Sudhir Bassi in corporate finance, and direct tax executive director Daksha Baxi acted on the Indian element of the transaction.
Osborne Clarke partner Jonathan King and associate director Louise Grzasko and Plymouth-based Foot Anstey partner Matthew Stoate acted for Koovs on English law.
Macfarlanes partner Mark Slade was the legal adviser to Peel Hunt, which acted as broker and nominated adviser (NOMAD) to the issue – a regulatory requirement in AIM listings.
The company, which is one of India’s largest online fashion retailers, £22m in its issue, according to Medianama, valuing the Indo-British company at £44m after a 22.6 per cent share bump on its first day of trading.
The AIM has been through a rocky couple of years but this year it seems to have recovered somewhat, having seen twice as many new admissions in the first 2014 quarter compared to the same time last year, according to The Lawyer.
Advisor fees and the complexity for listings on AIM tend to be lower than on the London Stock Exchange’s general list, in order to attract smaller companies to raise capital in London.
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Beta tumse waise bhi nahin hoga
We are biased towards deals we find interesting :)
With Indian AIM floats quite rare these days, and Koovs quite a funky up-and-coming e-commerce start-up, and 3 foreign firms, it's definitely one of the more interesting deals.
TAQA happened at a time when were doing the deals round-up already so it was a good idea to include it in that, which also had other interesting deals...
Didn't see your comments to this one -http://www.legallyindia.com/20090903163/Corporate-/-MA/trilegal-plays-with-covington-on-first-indian-aim-float-this-year - stop acting like a privileged yet unaccomplished know it all!
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