Khaitan & Co advised computer security software company Quick Heal Technologies on its $38.5m (Rs 250 crore) Initial Public Offering of fresh issue of equity shares and and an offer for sale of 6,814,736 equity shares by existing shareholders, consisting of Kailash Sahebrao Katkar, Sanjay Sahebrao Katkar, Sequoia Capital India Investment Holdings III, and Sequoia Capital India Investments III
The investors were advised by _Cyril Amarchand Mangaldas _partner Arjun Lall. Luthra & Luthra Mumbai partner Manan Lahoty acted for the book running lead managers which were also advised by Sidley Austin Singapore partner Prabhat K Mehta.
Khaitan Mumbai executive director Sudhir Bassi, partner Abhimanyu Bhattacharya, principal associates Thomas George and Ashwinee Oturkar, associates Oishik Bagchi, Abir Sarkar and Manasi Gandhi acted for Quick Heal.
The company has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) reported on 29 September and ICICI Securities, Jefferies India and JPMorgan India are the book running lead managers to the issue reported Times.
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Or maybe their PR department is simply better than many other firms at sending out deals so they get covered a little more than some others by the legal press?
Food for thought...
Ye legal press chapta kahan se hai?
Looking back, back of envelope, seems like we've done at least / roughly as many Amarchand, Luthra and other cap markets deals as Khaitan recently:
www.legallyindia.com/Table/Deals/Capital-Markets/
And a lot of the Khaitan deals wouldn't be based on their press releases necessarily but the firm might pop up in a press release from another firm.
In corporate, Khaitan maybe makes up about 1 in 5 or so deals across the past few months, and often that's also not necessarily based on one of their PRs:
www.legallyindia.com/Table/Deals/Corporate-/-MA/
Last week or so there seem to have been a lot of Khaitan-esque deals, admittedly, but so it goes - we do try to spread things out evenly but sometimes one firm crops up more often than others.
Finally, could it simply be that Khaitan is simply doing quite a few deals and you're upset about that?
Which firm would you like to see more of exactly that we're not featuring? I'll be happy to let you know why, if there's a reason.
Any reason why you haven't covered the HDFC QIP - by CAM and AZB - I believe it's the biggest QIP till date..
Also while doing so you praising KCO's PR just shows the inherent bias you & LI have. So much for your food for thought ! I wonder what you guys been eating !
If other legal press, blogs etc seem to carry out how come you only carrying out KCO deals. Pecuniary interests? Ahem Ahem !
Let me give you an example: ATC Viom deal, huge by its sheer size and legal complications with AZB, Luthra, Clifford Chance, Cyril's AM, NDA & Agram Legal as legal counsels for a variety of parties and no mention of it.
Sorry mate, my bad that no KCO here so not featured ! Sigh ! Perhaps you could confirm which of these firms informed you so much for food for thought again.
Should be covering Viom by tomorrow, I expect...
This seems to be less about Kian's/LI's "bias" for KCO and more about your anger at ATC-Viom deal not being covered. While I agree with you that ATC-Viom was an awesome deal and very complex am sure, if you are from the inside on one of those firms that advised on that deal, do you know if ANY of those law firms actually ran a press release and sent it to LI? If they didn't, then it's kinda juvenile to scream "Pecuniary interest? ahem ahem" at Kian so prematurely.
It doesn't exactly take a rocket scientist to understand that a news portal can report news more quickly in cases where the law firms concerned have issued a press release than in cases where no such press release has been issued! In the latter case, the journo has to do his/her own verification to get details, which takes more time than if a press release had been issued.
Lastly, it is ridiculous of you to say that Kian's "praising of KCO's PR" shows his "inherent bias". He was just making the rather simple point, I think, that KCO has a very well-oiled PR machinery at work, and he's probably in a much better position to judge that than you and me, as he must be seeking info from law firms regularly. KCO clearly has a more active external communications machinery at work in comparison to many other firms - whether that is a good thing or not is a matter of opinion and debate, but certainly doesn't seem to point to any bias from LI.
Now, don't say that my "praising of Kian" shows my "inherent bias towards him and LI" ;-) And no, I am not with KCO, am a competitor of theirs, and the last thing I have is "an inherent bias towards KCO" :-)
Congrats on the ATC-Viom deal, by the way....like I said, awesome deal indeed :-)
I think Amarchand has sent us the Viom press release but it fell between the cracks, so we'll be covering it shortly...
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