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Squire Patton Boggs, Luthra on $80m Manpasand Beverages QIP

Squire Patton Boggs and Luthra & Luthra advised Manpasand Beverages on its approximately $80m qualified institutions placement.

Squire US securities partner and head of India practice Biswajit Chatterjee, senior associate Kaustubh George and associate Isha Malhotra acted for Manpasand which owns India’s second largest selling mango drink MangoSip.

Luthra Mumbai capital markets partner Manan Lahoty, managing associate Manshoor Nazki and associates Sagnik Das and Varsha Srinivasan acted as the Indian counsel to Manpasand.

MotilalOswal Securities was the global coordinator and lead manager, and the transaction garnered over $460m in oversubscription, according to Squire’s press release.

“Manpasand Beverages has informed that a meeting of QIP Committee of the Company is scheduled to be held on 30 September, 2016, to consider and determine the price for Equity Shares of the Company to be issued in the QIP, in accordance with Chapter VIII and other applicable provisions of the SEBI Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014,” reported Mint.

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