Cyril Amarchand Mangaldas (CAM) advised Sterlite Technologies Limited (the “Company”), on a qualified institutions placement (“QIP”) of its equity shares, aggregating to INR 1,000 crores. The net proceeds of the QIP were proposed to be utilized towards (i) repayment, in full or part, of certain borrowings of the Company; and (ii) general corporate purposes.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was undertaken under the overall guidance of Yash J. Ashar, Partner & Head Capital Markets.
The transaction team was led by Gokul Rajan, Partner & Regional Head Markets Practice (Northern Region); with support from Aniran Ghoshal, Principal Associate; Sanjana Ravjiani, Senior Associate; Indira Satish, Associate; Aarushi Jain, Associate; Siddharth Tiwari, Associate; and Vatsala Parashar, Associate.
Other parties and advisors to the transaction included Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and Motilal Oswal Investment Advisors Limited, who acted as book running lead managers to the issue; and Hogan Lovells Lee & Lee, who acted as International legal counsel to the book running lead manager to the issue.
The QIP opened on April 8, 2024 and closed on April 12, 2024.
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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. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. 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 2022.
