The ₹4.97 billion (US$76 million) IPO by Matrimony.com facilitated the complete exit of Bessemer and partial exit to Mayfield and CMDB funds as per Luthra & Luthra (L&L) partner Vishal Yaduvanshi.
L&L advised Matrimony in relation to its IPO of equity shares following which the company’s shares were listed on the Bombay Stock Exchange and National Stock Exchange of India. “Our role entailed conducting due diligence on the issuer, drafting the offer document, negotiating the transaction agreements on behalf of the issuer as well as advising on the matters relating to Indian laws in relation to the transaction,” Yaduvanshi told India Business Law Journal.
“The team from Luthra took lead on and played a proactive role in preparing the relevant disclosures in the offer documents as well as advising the client on compliance related activities,” said Yaduvanshi. “Matrimony is one of the first few Indian companies engaged in providing online matrimonial services to undertake an IPO, with significant operations overseas, and, accordingly, the applicable regulatory requirements and compliances needed to be examined thoroughly.”
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