In $994m QIP after dry spell, AZB & CAM share credits for Kotak with S&R, CC for managers

Kotak Mahindra Bank… launched qualified institutional placement (QIP) offering to raise up to ₹7,500 crore. The bank has set a floor price of ₹1,147.75 per share for the offering. QIP is a tool used by listed companies to sell shares or other securities to qualified institutional buyers such as mutual funds.

— Mint

S&R Associates advised the managers, led by a team of partnersSandip Bhagat and Jabarati Chandra, and associatesAbhiroop A Datta, Sonal Bhargava and Mohnish Mathew (the managers were Goldman Sachs (India) Securities Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited, lead managers).

Somewhat unusually, the Mumbai offices of Cyril Amarchand Mangaldas and AZB & Partners both jointly acted for the issuer, Kotak Mahindra Bank, on domestic laws.

Clifford Chance acted as international counsel to the managers.

This is the first QIP draft prospectus filed since the Avenue Supermarts Ltd issue filed in February 2020, on which Cyril Amarchand Mangaldas and IndusLaw had advised with Herbert Smith Freehills.

2020-05-26

Deal value: INR 74.43 billion

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