Cyril Amarchand Mangaldas advises Cholamandalam Investment and Finance Company Limited on its Rs 4,000 crore QIP
Oct 11, 2023
BusinessWire India
Mumbai (Maharashtra)/ Delhi [India], October 11: Cyril Amarchand Mangaldas acted as the legal counsel to Cholamandalam Investment and Finance Company Limited (Cholamandalam) on its Rs 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 Rs 2,000.00 crores and (ii) compulsorily convertible debentures aggregating to Rs 2,000.00 crores, overall aggregating to Rs 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 28th September 2023; and closed on 5th October 2023.
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