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Khaitan & Co and Jones Day advised Mahanagar Gas Limited (MGL) and its promoters on its initial public offering of 24,694,500 Equity Shares raising approximately Rs. 1,040 crore (US$152.6 million).
Kotak Mahindra Capital Company Limited and Citigroup Global Markets India Private Limited were the Book Running Lead Managers of the IPO.
The Jones Day deal team was led by Of Counsel Paul Kuo (Singapore) and Partner Dan Coppel (London) and included John Owen (New York), Ben Witherall (Singapore), Sweta Gabhawala (Singapore) and Mackenzie Tan (Singapore).
The Khaitan team included Executive Director Sudhir Bassi, Partner Nikhilesh Panchal, Principal Associate Subhayu Sen, Senior Associates Ragini Aiyer and Chirayu Chandani and Associates Srikanth Mantravadi, Arjun Bhagi and Manasi Gandhi.
The Book Running Lead Managers were advised by Herbert Smith Freehills and Cyril Amarchand Mangaldas. The Herbert Smith team was led by Partner Siddhartha Sivaramakrishnan.
The Cyril Amarchand team included Partners Yash J. Ashar and Gaurav Gupte.
MGL, a joint venture between GAIL and BGAPH, is one of India’s largest natural gas distribution companies and is the sole authorized distributor of compressed natural gas and piped natural gas in Mumbai and its adjoining areas.