SAM & Co. advises Indiabulls on Rs.2000Cr rights issue

New Delhi [India], Mar. 27 (NewsVoir): Shardul Amarchand Mangaldas (SAM & Co.) advised Indiabulls Ventures Limited (Indiabulls) on its Rs. 2000 Crore rights issue, which was oversubscribed by approximately 1.33 times.

The capital markets team of Shardul Amarchand Mangaldas acted as Indian legal counsel to Indiabulls. The transaction team was led by Kaushik Mukherjee, Partner; and included Narayan Kedia, Principal Associate; Murtaza Zoomkawala, Senior Associate; Saswat Mohanty, Associate; and Nirali Trivedi, Associate.

As a part of the transaction, Indiabulls would issue partly paid up equity shares of Indiabulls Ventures Limited for an amount aggregating up to Rs. 2000 Crore on a rights basis to eligible equity shareholders of the company in the ratio of three rights equity shares for every 16 fully paid up equity shares held by eligible equity shareholders.

Other advisors to the transaction were Axis Capital Limited (Lead Manager to the Issue); AZB & Partners (Indian legal counsel to the Lead Manger); and Squire Patton Boggs Singapore LLP (International legal counsel to the Lead Manager).

The draft Letter of Offer was dated September 28, 2017; Letter of Offer was February 1, 2018; and Date of Allotment was March 16, 2018. (NewsVoir)

This story has not been edited. It has been published as provided by ANI