Advisor to the Offer for Sale by Promoter
Contribution
- Nuvama hand-held the Promoter through the entire process including optimal deal construct, pricing & timing of the issue and positioning the company to investors
- Successfully closed 5th transaction* for Route Mobile – IPO (2020), QIP (2021), Buyback (2022), Block (2024) and OFS (2024)
Deal Details
- Route Mobile is among the leading Cloud Communications Platform service provider offering Communication Platform as a Service (CPaaS) solutions.
- Offer was made to comply with minimum public shareholding (MPS) norms
- Despite market volatility over past 2 weeks prior to deal launch and correction of ~2%^, the issue witnessed a healthy response from investors – Non-Retail Category was oversubscribed ~1.3x of the offer size
^Movement of Nifty 50 between 2 weeks high and low
*Includes block transaction executed by Nuvama Group
Deal Highlights:
- Sterling and Wilson# is a global pure-play, end-to-end renewable solar engineering, procurement and construction (EPC) and O&M solutions provider
- Offer was made to comply with minimum public shareholding (MPS) norms
- Despite market volatility over past 2 weeks prior to deal launch and correction of ~3%^, the issue witnessed a healthy response from investors – Non-Retail Category was oversubscribed ~1.5x of the base offer size
Our Contribution:
- We hand-held the Promoters through the entire process including optimal deal construct, pricing & timing of the issue and positioning the company to investors
- This marks our 3rd deal closure in the renewables / power sector within a period of 45 days – Anzen India Energy Trust (InvIT IPO), Inox Green Energy (IPO) and Sterling and Wilson (OFS)
- This was our second deal w.r.t Sterling and Wilson post advising Reliance Group’s acquisition of stake in the Company
*Broking Services provided through an Associate Company
#Sterling and Wilson Renewable Energy Limited (formerly known as Sterling and Wilson Solar Limited)
^Movement of Nifty 50 between 2 weeks high and low
Deal Highlights:
- Edelweiss successfully closed the 1st capital market transaction for Orchid Pharma post its take over by Dhanuka Group
- The OFS received an overwhelming response across all categories of Investors, a testimony to Dhanuka Lab’s ability to successfully turnaround Orchid’s business
- Non-Retail Investors – ~2.8x; Retail – ~3.5x; Overall – ~2.9x
- Deal was strategically launched at an attractive Floor Price leading to optimum price realization in both, Non-Retail category and Retail category at ~20% and ~30% premium respectively
Our Contribution:
- We hand-held the Promoters throughout the process including in company positioning, valuation benchmarking and explaining the potential of Orchid Pharma to investors
- Enabled Deal Closure in Record Timeline – ~25 days from kick-off to deal launch
- Garnered interest from large anchor investors giving confidence to launch the trade and ensured participation from diverse investors
* By Edelweiss Securities Limited