Cyril Amarchand Mangaldas Advised on Fundraising by Aditya Birla Capital Limited
Cyril Amarchand Mangaldas has advised Aditya Birla Capital Limited (ABCL) on its fundraising through issuance of equity shares aggregating to Rs. 3000 crores.
The fundraise involved issuance of equity shares to the promoter and promoter group entities of ABCL, namely, Grasim Industries Limited and Surya Kiran Investments Pte Limited on a preferential basis amounting to Rs. 1,250 crores and a further issuance of equity shares by way of a qualified institutional placement to various qualified institutional investors amounting to Rs. 1,750 crores.
The transaction team was led by Yash Ashar, Partner & Head Capital Markets; Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); with support from Rushab Dhandokia, Principal Associate- Designate; Shubham Sancheti, Senior Associate; Indira Satish, Associate; Harshvardhan Lahiri, Associate; Raksha Raina, Associate; and Ved Chanduka, Associate.
Other Parties and Advisors to the transaction included:
• BofA Securities India Limited; Jefferies India Private Limited; Axis Capital Limited; ICICI Securities Limited; JM Financial Limited (acted as book running lead managers to the issue)
• Sidley Austin LLP (acted as International legal counsel for book running lead managers)
• Khaitan and Co (acted as Indian legal counsel for book running lead managers)
The allotment pursuant to preferential issue was completed on 26 June, 2023 while the QIP opened on 26 June, 2023 and closed on 30 June, 2023.