Shardul Amarchand Mangaldas & Co. Advises Yes Bank In Relation To Rs. 4906 Cr. QIP

Shardul Amarchand Mangaldas & Co (SAM & Co) acted as the domestic legal counsel to Yes Bank as to Indian law in relation to the Qualified Institutions Placement (QIP) of its equity shares. The Rs. 4,906 Cr. issue was the largest ever private sector QIP from India in rupee terms, and was the largest QIP on BSE and NSE for the year 2016–17.

The Capital Markets Team of Shardul Amarchand Mangaldas was led by Prashant Gupta, Partner, National Practice Head - Capital Markets; and included Monal Mukherjee, Partner; Mathew Thomas, Senior Associate; Shruti Sarkar, Associate and Oishika Dasgupta, Associate. They were assisted by Sagarnil Banerjee, Senior Associate Designate; Ishita Kashyap, Associate and Monic Pipalia, Associate.

As a part of the transaction, QIP of equity shares of face value of Rs. 10 each by YES Bank was executed under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”) and Section 42 of the Companies Act, 2013 and the rules made there under.

The Issue opened on March 23, 2017 and closed on closed on March 29, 2017. The Equity Shares were allotted on March 31, 2017. The Preliminary Placement Document was filed with BSE Limited and National Stock Exchange of India Limited on March 23, 2017 and the Placement Document was filed with the Stock Exchanges on March 29, 2017.

Other advisors to the transaction were Luthra & Luthra Law Offices (acted as the domestic legal counsel to the BRLMs as to Indian law.), and Allen & Overy (acted as the international legal counsel to the BRLMs as to U.S. Law).