The KSH International Limited IPO marked a significant milestone in India’s capital markets—raising a total of ₹745 crore. Behind this successful public offering was a league of financial and legal experts, including Talwar Thakore & Associates (TT&A), a firm that has quietly built a reputation as one of India’s most trusted legal advisors in high-stakes capital markets deals.
If you’ve ever wondered what law firms really do behind the scenes of an IPO, or how India’s top legal minds navigate regulatory mazes, this story is for you.
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What Is the KSH International Limited IPO All About?
Let’s break it down:
Issuer: KSH International Limited
IPO Size: ₹745 crore
Fresh Issue: ₹420 crore
Offer for Sale (OFS): ₹325 crore
Book Running Lead Managers (BRLMs):
Nuvama Wealth Management
ICICI Securities
Issuer Legal Counsel: Trilegal
BRLMs Legal Counsel: Talwar Thakore & Associates (TT&A)
KSH International, an industrial engineering company with a strong footprint in logistics, sought this public offering to fuel its next phase of growth. The IPO offered investors a glimpse into a well-established company with robust revenue potential and diversification plans.
TT&A’s Role in the KSH International Limited IPO
Acting as legal counsel to the book-running lead managers (BRLMs)—Nuvama Wealth and ICICI Securities—Talwar Thakore & Associates (TT&A) ensured that the IPO adhered to all regulatory frameworks under SEBI and Indian stock exchange regulations.
Their responsibilities included:
Conducting comprehensive legal due diligence
Reviewing and finalizing the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP)
Navigating compliance across SEBI (Issue of Capital and Disclosure Requirements) Regulations
Liaising with the Securities and Exchange Board of India (SEBI) and stock exchanges on regulatory clarifications
Advising the BRLMs on all risk factors, disclosures, and legal liabilities
In short, TT&A helped pave the legal path that allowed the IPO to proceed smoothly—mitigating risks and ensuring investor confidence.
Here’s the transaction team from TT&A that worked on this deal:
Abhinav Kumar – Partner (Lead)
Shubham Sancheti – Managing Associate
Indira Satish – Senior Associate
Abhishek Iyer – Associate
Daniyal Khan – Associate
Akshita Sharma – Associate
Anand Kumar – Associate
Their combined expertise in securities law, transaction structuring, and disclosure documentation was crucial to the IPO’s legal integrity.
Trilegal’s Role on the Issuer Side
While TT&A was advising the bankers, Trilegal acted as the issuer’s legal counsel, guiding KSH International on:
Corporate restructuring
Promoter-related disclosures
Corporate governance aspects
Statutory and regulatory compliance
Together, TT&A and Trilegal ensured a legally sound offering from both sides of the table—a testament to the growing importance of dual-side legal counsel in IPOs.
Why This IPO Matters to India’s Capital Markets
The KSH International IPO reinforces several key market trends:
Mid-cap manufacturing companies are gaining investor traction
Institutional investors are still hungry for well-structured offerings
Legal due diligence is becoming more robust and standardized
And for law firms like TT&A, it highlights the indispensable role of deep expertise in capital markets regulations, especially in complex transactions involving Offer-for-Sale structures and primary issuance.
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
