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Cyril Amarchand Mangaldas Advised Vedanta On QIP Of ₹8500 Cr Equity Shares
Cyril Amarchand Mangaldas Advised Vedanta On QIP Of ₹8500 Cr Equity Shares
Cyril Amarchand Mangaldas (CAM) advised Vedanta Limited on a qualified institutions placement (QIP) of its equity shares, aggregating to INR 8500 crores. The QIP was undertaken by Vedanta in compliance with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations) and Section 42 of the Companies Act, 2013.
The QIP launched on July 15, 2024, and closed on July 19, 2024. The QIP was subscribed nearly 3 times. The allotment was completed on July 20, 2024.
Vedanta is a globally diversified natural resource group engaged in exploring, extracting, and processing minerals and oil and gas, having operations in India, Namibia, Ireland, South Africa, Liberia, and UAE.
CAM played a crucial role, providing comprehensive legal counsel and strategic guidance to ensure the successful execution of the transaction.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter.
The transaction was led by Senior Partner, Yash Ashar with support from senior Associate, Sanjana Ravjiani and associates Harshvardhan Lahiri, Arikta Shetty, Devansh Raheja, Hitesh Nagpal, and Zeb Burk.
Other parties and advisors to the transaction included Citigroup Global Markets India Private Limited, which acted as book running lead manager to the issue; JM Financial Limited, which acted as book running lead manager to the issue; Nuvama Wealth Management Limited, which acted as book running lead manager to the issue; and Linklaters Singapore Pte. Ltd., which acted as international legal counsel for book running lead managers.
Other parties and advisors to the transaction included Citigroup Global Markets India Private Limited, JM Financial Limited, and Nuvama Wealth Management Limited acting as book running lead managers for the issue.
Additionally, Linklaters Singapore Pte. Ltd. served as the international legal counsel for the book running lead managers.
The transaction was signed on May 20, 2024, and closing was done on July 20, 2024.