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In $994m QIP after dry spell, AZB & CAM share credits for Kotak with S&R, CC for managers

Kotak Mahindra Bank... launched qualified institutional placement (QIP) offering to raise up to ₹7,500 crore. The bank has set a floor price of ₹1,147.75 per share for the offering. QIP is a tool used by listed companies to sell shares or other securities to qualified institutional buyers such as mutual funds.


S&R Associates advised the managers, led by a team of partners Sandip Bhagat and Jabarati Chandra, and associates Abhiroop A Datta, Sonal Bhargava and Mohnish Mathew (the managers were Goldman Sachs (India) Securities Private Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited, lead managers).

Somewhat unusually, the Mumbai offices of Cyril Amarchand Mangaldas and AZB & Partners both jointly acted for the issuer, Kotak Mahindra Bank, on domestic laws. The CAM team included partner Yash Ashar, partner Kranti Mohan, principal associate Janhavi Seksaria, associate Mrudul Desai, associate Saloni Tyagi and associate Shavya Kumbhat.

Update 5 June 2020: AZB & Partners advised Kotak Mahindra Bank led by a team including partners Ashwath Rau, Varoon Chandra, Kashish Bhatia and Richa Choudhary and senior associates Rahul Aggarwal and Armaan Patkar.

Clifford Chance acted as international counsel to the managers.

This is the first QIP draft prospectus filed since the Avenue Supermarts Ltd issue filed in February 2020, on which Cyril Amarchand Mangaldas and IndusLaw had advised with Herbert Smith Freehills.


Deal value: INR 74.43 billion

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Double AZB-CAM team according to prospectus
Double AZB-CAM team according to prospectus

Update 5 June 2020: Cyril Amarchand Mangaldas advised Kotak Mahindra Bank Limited led by a team i

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