Rajani Amarchand AZB Sherman amp Sterling on Technofab Oberoi and Parabolic IPOs

Technofab Engineering, the Hyderabad based Engineering and Construction company catering to the power, industrial and thermal sectors will be entering capital markets with a public issue of 29.9 lakh equity shares. Mumbai-based Rajani Associates advised the issue..Sangeeta Lakhi, Partner, Rajani Associates told Bar & Bench that fellow partner, Sanjay Israni led the transaction. The company intends to use the proceeds from the issue to meet long term working capital requirements, the procurement of construction equipment and general corporate purpose including the setting up of training centers for its employees..Oberoi Realty.Mumbai based Oberoi Realty Limited is looking to raise Rs. 1,000 – 1,200 crore ($217 – $260 million) by diluting 12.2 percent of the post issue paid up equity capital..While Amarchand Mangaldas’ Mumbai offices are advising the company on the issue, AZB & Partners’ Mumbai office and Sherman & Sterling’s Singapore offices are the domestic and international legal counsel to the underwriters..Oberoi Realty intends to utilize about Rs.777 crore ($169 million) for the construction of ongoing and planned projects, Rs. 225 crore ($49 million) from the capital raised for land acquisition and the balance for general corporate purposes..Parabolic Drugs.The Delhi offices of Amarchand Mangaldas are advising Parabolic Drugs Limited, a Chandigarh based pharmaceutical company with manufacturing facilities in Punjab and Haryana. Sources state that the company is looking to raise Rs. 200 crore ($43.1 million) in its maiden IPO..Parabolic is one of India’s fastest growing Active Pharmaceutical Ingredients (API) manufacturing companies catering to both Indian and international markets. Parabolic is looking to use the proceeds of the issue to set up some new production units at its existing plants besides setting up a new plant and retiring loans.