Equitas Small Finance Bank IPO advised by Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas acted as the legal counsel to Equitas Small Finance Bank Limited (Equitas Bank) and selling
Equitas Small Finance Bank IPO advised by Cyril Amarchand MangaldasCyril Amarchand Mangaldas acted as the legal counsel to Equitas Small Finance Bank Limited (Equitas Bank) and selling shareholder Equitas Holdings Limited (EHL), on its Initial Public Offering (IPO) aggregating to Rs. 517.60 crores (Offer).As a part of the Offer, 156,848,484 equity shares of face value of Rs. 10 each...
Equitas Small Finance Bank IPO advised by Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas acted as the legal counsel to Equitas Small Finance Bank Limited (Equitas Bank) and selling shareholder Equitas Holdings Limited (EHL), on its Initial Public Offering (IPO) aggregating to Rs. 517.60 crores (Offer).
As a part of the Offer, 156,848,484 equity shares of face value of Rs. 10 each (Equity Shares) for cash at price of Rs. 33 per Equity Share (including a premium of Rs. 23 per Equity Share) aggregating to Rs. 517.60 crores were transacted. The Offer comprised of a fresh issue of up to 84,848,484 Equity Shares aggregating to Rs. 280 crores by the Equitas Bank (Issuer) and an offer for sale of 72,000,000 Equity Shares aggregating to Rs. 237.6 crores by EHL (Promoting Selling Shareholder).
Chennai headquartered Equitas Small Finance Bank is a small finance bank founded by Equitas as a microfinance lender. The company provides microfinance loans promoting financial inclusion, housing finance, vehicle finance, and MSE finance.
The Capital Markets Team of Cyril Amarchand Mangaldas advised on the Transaction. The Transaction team was led by Yash J. Ashar, Partner & Head - Capital Markets.
The team advising the Bank was led by Reuben Chacko, Partner; with support from Vinay Sirohia, Principal Associate; Tanvi Kini, Associate and Saurav Das, Associate and the team advising the Selling Shareholder (EHL) was led by Vijay Parthasarathi, Partner; with support from Janhavi Manohar, Principal Associate and Sowmya Khandelwal, Associate.
Other parties involved in the Transaction included:
JM Financial Limited, Edelweiss Financial Services Limited and IIFL Securities Limited (acted as the book running lead managers (BRLMs)
S&R Associates (legal counsel to the BRLMs as to Indian Law)
Squire Patton Boggs (MEA) LLP (International Legal Counsel to the BRLMs)