Cyril Amarchand Mangaldas acted as the legal counsel to Cholamandalam Investment and Finance Company Limited (Cholamandalam) on its INR 4,000 crore Qualified Institutional Placement (QIP). This is the first QIP of equity shares and compulsorily convertible debentures by an Indian company.
The transaction team was led by Yash Ashar (Partner, Head – Capital Markets) and Vijay Parthasarathi, Partner &Regional Co-head Markets Practice (Southern Region); with support from Tanvi Kini, Principal Associate; Veena Raghav, Associate; Vedansh Batwara, Associate; and Arunimaa Jaiswal, Associate;
As a part of the transaction, Cholamandalam undertook a QIP of (i) equity shares aggregating to approximately INR 2,000.00 crores and (ii) compulsorily convertible debentures aggregating to INR 2,000.00 crores, overall aggregating to INR 4,000.00 crores (“Issue”).
Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited and IIFL Securities Limited were the book running lead managers to the QIP.
The transaction was signed on 28thSeptember 2023; and closed on 5th October 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 160 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.
