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20 December 2012
Capital Markets

AZB & Partners advised veteran client diversified technology and manufacturing major Honeywell Asia Pacific in its Rs 130 crore ($25m) sale of 6.24 per cent stake in its subsidiary Honeywell Automation India in an offer for sale through the stock exchange (OFS).

Amarchand Mangaldas and Herbert Smith Freehills advised Deutsche Equities India which was the stock broker for the OFS.

AZB & Partners Delhi co-founding partner Ajay Bahl with partner Anil Kasturi and senior associate Aparna Mehra acted for Honeywell with which Bahl’s relationship dates back to the early 1990s, he told Legally India.

Amarchand Mangaldas Mumbai capital markets partners Yash Asher and Gaurav Gupte acted for Deutsche Equities India, with Herbert Smith Freehills Singapore counsel Siddhartha Sivaramakrishnan.

Honeywell offloaded 5,51,333 shares as part of this OFS, to bring down the promoters’ holding to 75 per cent as per SEBI’s directive on minimum public shareholding, according to Money Control.

11 October 2012
Capital Markets

Vaish Associates advised auto-parts maker Amtek India in raising Rs 375 crore ($70mn) through issue of 2.5 per cent foreign currency convertible bonds (FCCB). Linklaters and Trilegal advised the Singapore-incorporated DBS bank which was the guarantor, and the bank’s Indian branch which was the lead manager in the issue.

Vaish Associates Delhi partner Satwinder Singh with principal associates Manish Tully and Sushma Mathur and associate Sougata Kundu acted for Amtek India, which issued FCCB convertible at Rs 103.005 per equity share of the company according to Post Jagran.

Trilegal Mumbai partner Srinivas Parthasarthy with senior associate Anil Choudhary and associates Priyanka Kumar and Smriti Bahety, and Linklaters Singapore counsel Aditya Shroff acted for DBS Bank India and Singapore.

The issue, raised on the Bombay Stock Exchange (BSE), is Amtek’s second round of FCCB-fund raising in less than six months. Vaish Associates also advised the company in the first round in April 2012, when funds worth Rs 650 crore ($130m) were raised on the Singapore Stock Exchange.

25 May 2012
Capital Markets

Stock markets2012: deadLI-Mint exclusive: Law firms saw a slump in earnings from their capital markets business in the year that ended March. Many that had invested heavily in the practice during the boom years adopted various strategies to cope with the decline.

30 March 2012
Capital Markets

Promoter-friendly issueS&R Associates and Jones Day advised the book running lead managers (LMs) Kotak Mahindra Capital and UBS Securities India on the first ever Institutional Placement Programme (IPP) in India. Indian realty major Godrej Properties’ (GPL) issued a private placement of Rs 4.9 bn ($95m) of equity shares worth Rs 575 each. GPL was advised by Amarchand & Mangaldas & Suresh A Shroff & Co.

11 January 2012
Capital Markets

image MV Kini & Co took advantage of the government go-ahead to four major PSUs to issue tax-free bonds, advising National Highway Authority of India (NHAI) on its Rs 10,000 crore ($1.93bn) issue of 28 December 2011.

07 June 2011
Capital Markets

ICICI-Bank-HQ-Bandra-Kurla-Complex-Mumbai Amarchand Mangaldas, Latham & Watkins and Middle East law firm Al Tamimi & Company have advised India’s largest private sector bank ICICI Bank on issuing $1bn (Rs 4,470 crore) of international bonds through five-and-a-half year fixed rate notes.

17 May 2011
Capital Markets

Bombay-stock-exchange-ticker The winner doesn’t take it all anymore in the capital markets field. Read Legally India’s full analysis of the main players and contenders in the equity and debt capital markets.

06 May 2011
Capital Markets

ALMT Legal, Khaitan & Co and Crawford Bayley have grabbed the maximum number of rights issue mandates in the financial year (FY) 2010-2011.

15 April 2011
Capital Markets

Exclusive: Amarchand Mangaldas has lost ground in its lead over Luthra & Luthra and surprise performer AZB & Partners in the initial public offering (IPO) league tables for the 2010-11 financial year, while DLA Piper came from nowhere to top the rankings of foreign firms ahead of Dorsey & Whitney and Jones Day.

11 April 2011
Capital Markets

stock_exchange_chart Exclusive: Against a background of slowing markets in qualified institutional placements (QIPs), Amarchand Mangaldas has retained a strong lead in Legally India’s QIP league table for the 2010-2011 fiscal despite its deal volume dropping by half, while Luthra & Luthra and Crawford Bayley scaled ahead of Khaitan & Co and AZB & Partners.

03 February 2011
Capital Markets

Luthra & Luthra and DLA Piper have bagged the 12,500 crore ($2.75bn) follow-on share sale of ONGC, beating five other law firms in a competitive tender, with Amarchand Mangaldas Delhi winning the mandate for the bankers.

14 January 2011
Capital Markets

SAMSUNG DIGITAL CAMERAExclusive: AZB & Partners has topped Legally India’s 2010-2011 quarterly initial public offering (IPO) league table taking it to second place in the financial year IPO rankings to date behind Amarchand Mangaldas and overtaking Luthra & Luthra, which did not file any IPOs in the last quarter.

17 November 2010
Capital Markets

Khaitan & Co and UK firm Berwin Leighton Paisner (BLP) have advised on the Global Depository Receipt (GDR) issue of Indian coal-bed methane producer Great Eastern Energy Corporation Limited (GEECL) on the London Stock Exchange (LSE) after its listing on London's Alternative Investments Market (AIM) earlier in 2005.

01 November 2010
Capital Markets

Crawford Bayley and Dorsey & Whitney have won the mandate to advise public sector undertaking SAIL on its follow-on public offer (FPO) to raise Rs 8,000 crore.