The Kolkata based sponge iron maker plans to raise a maximum of Rs 450 crore through the issue of equity shares to qualified institutional buyers (QIBs) on a private placement basis.
AZB & Partners advised the company on the private placement with capital markets partners Shameek Chaudhuri and Srinath Dasari leading.
Khaitan & Co acted as the domestic legal advisors to the underwriters with Mumbai-based partner Nikhilesh Panchal heading the team including of senior associate Sweta Gabhawala and associate Varun Jetly.
Jones Day Hong Kong partner David Neuville acted as the international counsel for the underwriters Macquarie (India), Motilal Oswal and Centrum Capital.
The firms declined to comment.