CAM advises JSW One MSME on ₹500 crore fundraise

Cyril Amarchand Mangaldas has advised JSW One Platforms Limited (JSW One MSME) on their ₹500 crore pre-IPO capital raise from JSW Steel Limited, affiliate entities of Principal Global Investors LLC, One-Up Financial Consultants, and Satyug Technologies Limited.

Out of ₹500 crore, ₹340 crore has been subscribed by the investors in the form of compulsorily convertible preference shares issued by JSW One MSME, with the remaining pool to be subscribed by fresh investors.

CAM acted as the legal counsel for JSW One MSME on this transaction. The Firm advised on the structure and closing of the transaction; drafted, negotiated, and finalised the share subscription agreements for each of the Investors; and drafted and negotiated the shareholders' agreement for the transaction. 

The transaction was led by Soumya Srivastava (Partner), with support from Shashank Ugrankar (Principal Associate) and Samaksh Khanna (Associate).

Devaki Mankad (Partner) provided advise from an eventual listing of JSW One MSME.

JSW One MSME is a leading tech-led B2B e-commerce platform and by offering an end-to-end ecosystem, including commerce, credit, and fulfilment, the Company aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country.

The funding with help scale JSW One MSME's credit and logistics capabilities to expand into new markets. Post the completion of the transaction, the Company's valuation will trigger the unicorn status making it a $1 billion enterprise.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.