CMS INDUSLAW is acting as legal counsel to Avtar Steel Limited in connection with the company’s proposed initial public offering (IPO). The firm is advising on capital markets and regulatory aspects, including the preparation and filing of the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), related transaction documentation, securities law compliance, and other legal matters pertaining to the offering. The CMS INDUSLAW transaction team comprises Mathew Thomas (Partner), Anjanesh Vatsa (Principal Associate), Aman Bahl (Senior Associate), and Associates Khushi Dua, Nikita Srivastava, Sahil Mehta, and Sanjana Gupta.
Economic Laws Practice (ELP) is advising the book running lead managers for the IPO, Systematix Corporate Services Limited and Elara Capital (India) Private Limited. The ELP team is led by Geeta Dhania (Partner), with support from Associates Anusha Agarwal, Shreya Prakash, Arpita Pattnaik, Shreya Vyas, and Priya Sharma. Their role involves providing legal guidance to the lead managers on regulatory and procedural requirements associated with managing the public issue.
The proposed IPO by Avtar Steel Limited consists of two components: a fresh issue of equity shares aggregating up to ₹585 crore and an offer for sale of up to 5,000,000 equity shares by the promoter selling shareholder. The company filed its Draft Red Herring Prospectus with SEBI, marking the formal initiation of the public offering process under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Avtar Steel Limited is engaged in the manufacture of stainless-steel long and wire products of special grades, offering customized and tailor-made solutions to its customers. The company’s operations are focused on serving industrial clients requiring precision-engineered steel products for specialized applications.