Cyril Amarchand Mangaldas(CAM) advised Vedanta Limited on a qualified institutions placement (“QIP”) of its equity shares, aggregating to INR 8500 crores. The QIP was undertaken by Vedanta in compliance with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Section 42 of the Companies Act, 2013 .
The QIP launched on July 15, 2024 and closed on July 19, 2024. The QIP was subscribed nearly 3 times. The allotment was completed on July 20, 2024.
Vedanta is a globally diversified natural resource group engaged in exploring, extracting and processing minerals and oil and gas having operations in India, Namibia, Ireland, South Africa, Liberia, UAE
CAM played crucial role, provided comprehensive legal counsel and strategic guidance to ensure the successful execution of the transaction.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was led by Yash Ashar, Senior Partner; with support from Sanjana Ravjiani, Senior Associate; Harshvardhan Lahiri, Associate; Arikta Shetty, Associate; Devansh Raheja, Associate; Hitesh Nagpal, Associate; and Zeb Burk, Associate.
Other parties and advisors to the transaction included Citigroup Global Markets India Private Limited, acted as book running lead manager to the issue; JM Financial Limited, acted as book running lead manager to the issue; Nuvama Wealth Management Limited, acted as book running lead manager to the issue; Linklaters Singapore Pte. Ltd., acted as international legal counsel for book running lead managers.
The transaction was signed on 20th May, 2024 and closing was done on 20th July, 2024. _____________________________________________
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.
