Shardul Amarchand Mangaldas advises the Book Running Lead Managers in ₹ 2,000 crore QIP by AU Small Finance Bank Limited
August 14, 2022
Shardul Amarchand Mangaldas advised ICICI Securities Limited, BofA Securities India Limited, Morgan Stanley India Company Private Limited, and Avendus Capital Private Limited (collectively, the “Book Running Lead Managers”) in ₹ 2,000 crore qualified institutions placement of equity shares (“QIP”) by AU Small Finance Bank Limited (“Bank”). The deal is valued at approximately USD 250 million. The date of closing the deal was 09 August 2022.
The issue was subscribed by marquee investors, such as Government of Singapore, Monetary Authority of Singapore, as well as other large foreign portfolio investors, life insurance companies and mutual funds. This is the largest QIP by a small finance bank in India.
The transaction team was led by Prashant Gupta, Partner, National Practice Head, Capital Markets; Sayantan Dutta, Partner; Maharghya Biswas, Senior Associate and Debolina Mitra, Associate.
Prashant Gupta acted as the relationship partner for SAM&Co.
AZB & Partners advised the Bank on Indian legal aspects. Sidley Austin LLP advised the Book Running Lead Managers on international legal aspects.