Shardul Amarchand Mangaldas & Co. Advises PC Jeweller on Rs. 257 Cr. Investment by Fedility Group
Shardul Amarchand Mangaldas & Co. (SAM & Co) advised PC Jeweller Limited on Rs. 257 Cr investment by funds managed by Fidelity. Listed on the National Stock Exchange of India and BSE Limited, PC Jeweller is one of the established players in the organized jewellery retail sector in India with 63 showrooms across 52 cities and 18 states.
Shardul Amarchand Mangaldas & Co. team was responsible for reviewing and negotiating the investment agreement, and other ancillary documents pertaining to the transaction. The Capital Markets and Private Equity team was led by Mr. Prashant Gupta, National Practice Head- Capital Markets; and included Mr. Apurva Rai, Principal Associate.
As a part of the transaction, funds managed by Fidelity are proposing to invest approximately Rs. 257 Cr in PC Jeweller Limited by subscribing to compulsorily convertible preference shares (CCPS). The proceeds of the issuance will be utilised by PC Jeweller to meet its working capital requirements as well as for capital expenditure to support business expansion.
The parties involved in the transaction were Funds managed by Fidelity (‘Investor’) and PC Jeweller Limited (‘Client’).
Other advisors to the transaction were Kotak Mahindra Capital Company Limited (Advisor to PC Jeweller), and Dechert LLP and Luthra & Luthra Law Offices (Legal counsels to Fidelity).
The deal is valued at INR 257 Crores approximately.
The deal was signed on July 27, 2016 and is expected to be closed by the end of August 2016.
SAM & Co. advises PC Jeweller on Rs.257Cr Investment by Fedility Group
