“Vodafone Idea Ltd, India’s largest telecommunications company by subscribers, is selling $3.6 billion worth of shares in a rights issue at a discount of about 60 percent, which will more than triple its outstanding shares,” reported Reuters.

S&R Associates advised the issuer, Vodafone Idea Limited, led by partners Sandip Bhagat and Jabarati Chandra.

Cyril Amarchand Mangaldas was counsel to the lead managers, Kotak Mahindra, DSP Merrill Lynch, Morgan Stanley, HDFC Bank and SBI Capital Markets, led by partners Yash Ashar and Abhinav Kumar, with support from principal associate S Vivek, consultant Shruti Sarkar, and associates Tania Chourasia, Siddhant Sattur, Saee Athalye, and Priyattama Bhanj.

Sidley Austin as foreign counsel advised lead managers led by a team of partner, partners Manoj Bhargava, Ankit Kashyap, Nicholas R Brown and Brian M Kaplowitz; counsel Carla G Teodoro; and associates Varun Jetly and Christian D Molander-Barraza.

2019-03-20

Deal value: US$3.6 billion

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