Cyril Amarchand Mangaldas acted as the legal counsel to The Federal Bank Limited (Federal Bank) on its qualified institutions placement (QIP)of equity shares.
The Capital Markets Practice of Cyril Amarchand Mangaldas advised Federal Bank on the transaction. The transaction team was led by Reuben Chacko, Partner & Regional Co-head Markets Practice (Southern Region); with support from Satakshi Sharma, Senior Associate – Designate; Neha Sahgal, Associate; Vartika Bhatnagar, Associate; Priyanka Khetwal, Associate; and Aarushi Jain, Associate.
The transaction involved an issuance of 230,477,634 equity shares of face value of INR 2 each at a price of INR 131.90 per equity share, including a premium of INR 129.90 per equity share, aggregating to approximately INR 304 crore. The equity shares are listed on National Stock Exchange of India Limited and BSE Limited.
Other Parties to the transaction included White & Case Pte Ltd (acted as international legal counsel to the Book Running Lead Managers).
The Transaction was signed on 26th May, 2023 and closed on 24thJuly, 2023. _____________________________________________
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 170 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
