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bi3ghbgdAmarchand Mangaldas and Latham & Watkins advised London-listed mining giant Vedanta on largest ever bond offering by an Indian corporate.

IPPThree firms offload 81 million shares of real estate giant through the still novel institutional placement programme (IPP).

Amarchand Mangaldas, Desai & Diwanji, Luthra & Luthra and Linklaters are advising Fortis Healthcare on its institutional placement programme (IPP) that could raise up to $58m (Rs 320 crore).

Amarchand capital markets partner Yash Ashar in Mumbai acted for Fortis, while Luthra & Luthra Delhi-based capital markets partner Madhurima Mukherjee advised the lead managers Standard Chartered, JP Morgan and Religare.

Linklaters Singapore also advised the lead managers.

Desai & Diwanji partners Vishwang Desai and Srishti Ojha and associate Ishita Kashyap advised GIC Special Investments, in relation to the foreign currency convertible bonds (FCCBs).

The price under Chapter  VIII-A of SEBI’s ICDR regulations, will be no more than Rs 92 per share for up to around 35 million shares.

Khaitan & Co and Herbert Smith Freehills advised the ministry of finance in the Rs 11,470 crore ($2.1bn) disinvestment of 9.5 per cent in India’s largest thermal power producer NTPC through an offer for sale.

Allen & Overy (A&O) acted for Bharti Airtel, which issued bonds for the first time ever in a heavily oversubscribed offer for $1bn. Axon Partners and Milbank Tweed Hadley & McCloy advised the underwriters.

Axon Partners advised the Delhi-based Jaypee group’s Jaiprakash Power Ventures (JPVL) in its Rs 950 crore ($175m) qualified institutional placement (QIP) of 12 per cent shares.

AZB & Partners advised oil and gas conglomerate Reliance Industries on the issuance of Rs 4,300 crore ($800m) of 5.875 per cent senior perpetual notes.

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.

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.

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.

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.

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.

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.

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.

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