Cyril Amarchand Mangaldas advises Bandhan Financial Holdings on sale of its shares in Bandhan Bank
Aug 18, 2020
Mumbai (Maharashtra)/New Delhi [India], Aug 18 (ANI/NewsVoir): Cyril Amarchand Mangaldas acted as the legal counsel to Bandhan Financial Holdings Limited (Bandhan Financial), in relation to sale of approximately 20 per cent shares held in Bandhan Bank Limited (Bandhan Bank) aggregating to Rs 10,500 crore.
This Transaction was one of the largest stake sale in a financial services company through secondary market.
The Capital Markets Team of Cyril Amarchand Mangaldas advised Bandhan Financial on the Transaction. The Transaction team was led by Yash Ashar, Partner; and Abhinav Kumar, Partner; with support from Neha Samant, Principal Associate.
As a part of the Transaction, Bandhan Financial sold 33,73,67,189 equity shares of Bandhan Bank by way sale on the screen-based trading of BSE Limited (BSE) and National Stock Exchange of India Limited.
Other parties involved in the Transaction included Shardul Amarchand Mangaldas and Freshfields Bruckhaus Deringer (Legal counsels to Brokers); J.P. Morgan India Private Limited; Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited and JM Financial Institutional Securities Limited (Brokers to the Sale).
The Transaction was signed on August 2, 2020 and concluded on August 5, 2020.
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