Mercantile Ports, which is operating and developing out its port and logistics facility in Navi Mumbai, Maharashtra, India, has carried out a fundraise to help fund the servicing of new and existing contracts, the construction of further storage facilities, debt servicing and general working capital purposes.
The fundraise included a placing carried out by way of an accelerated bookbuild led by Cenkos Securites as lead manager, as well as a further subscription by the company's India-based strategic investor, Hunch Ventures. Hunch Ventures has also agreed to provide an unsecured loan facility of up to £4.4 million to provide additional headroom.
DWF's corporate team advised Mercantile Ports, led by partner John Campion (Birmingham), alongside senior associate Krzysztof Jagiełło (Warsaw) and trainee Jaani Patheja (London).
John Campion said: "We are delighted to have advised Mercantile Ports on this key transaction, which will enable the company to continue its development of its port and logistics facility as India recovers from the COVID-19 pandemic."
This is the latest of several key ECM transactions on which DWF has advised in the last few weeks, including: