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Khaitan capitalises on Morgan Stanley hire alongside Amarchand, Luthra in $930m Cairn India buy-back


How many barrels per hour would a partner bill Cairn?
How many barrels per hour would a partner bill Cairn?
Amarchand Mangaldas Delhi office is acting for exploration giant Cairn India, which is buying back up to 14.98% of its equity share capital for $930m (Rs 5,725 crore) from the open market through stock exchanges. [PTI]

The buyback of India’s largest oil producer, which is owned by mining baron Anil Agarwal, is also one of the biggest buyback offers ever made by an Indian company.

Morgan Stanley was the lead manager and was advised by Khaitan & Co executive director Sudhir Bassi and partner Arindam Ghosh, according to a press release from the firm.

Bassi had joined Khaitan last year from Morgan Stanley, where he was managing director, coming on board as a non-lawyer and partner-level director in Mumbai.

Amarchand Delhi partners Prashant Gupta and Gunjan Shah, with associate Shruti Kanodia acted for Cairn, while Standard Chartered, one of the managers, was advised by Luthra & Luthra Mumbai capital markets partner Manan Lahoty and managing associate Vishal Yaduvanshi, confirmed two persons familiar with the deal.

S&R Associates has also acted for Cairn India in the past, having bagged the instruction in its $9.6bn takeover by UK miner Vedanta Resources in 2010.

Photo by Ray Bodden

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