Cyril Amarchand Mangaldas advised Aditya Birla Capital Limited (ABCL) on its fundraise through issuance of equity shares aggregating to INR 3000 crore. .
The Capital Markets practice of Cyril Amarchand Mangaldas advised ABCL on the transaction. The transaction team was led by Yash Ashar, Partner & Head Capital Markets; Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); with support from Rushab Dhandokia, Principal Associate- Designate; Shubham Sancheti, Senior Associate; Indira Satish, Associate; Harshvardhan Lahiri Associate; Raksha Raina, Associate; and Ved Chanduka, Associate.
The fundraise involved issuance of equity shares to the promoter and promoter group entities of ABCL, namely, Grasim Industries Limited and Surya Kiran Investments Pte Limited on a preferential basis amounting to ₹1,250 crores and a further issuance of equity shares by way of a qualified institutional placement to various qualified institutional investors amounting to ₹1,750 crores.
Other Parties and Advisors to the transaction included:
• BofA Securities India Limited; Jefferies India Private Limited; Axis Capital Limited; ICICI Securities Limited; JM Financial Limited (acted as book running lead managers to the issue)
• Sidley Austin LLP (acted as International legal counsel for book running lead managers) • Khaitan and Co (acted as Indian legal counsel for book running lead managers)
The allotment pursuant to preferential issue was completed on June 26, 2023 while the QIP opened on June 26, 2023 and closed on June 30, 2023.
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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. 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.
