Hogan Lovells advised on Bank of India’s US$540 million equity offering and Indian Bank’s US$500 million equity offering, within a week of each other. Bank of India and Indian Bank are among the largest banks in India, and these two significant transactions marked a strong return to market for banks and financial institutions in India.
These transactions have been the second and third largest equity offerings by Indian public sector banks this year, following the success of the US$480 million offering by Cholamandalam Finance in October, the largest non-bank equity and equity linked offering, also advised by Hogan Lovells.
The Hogan Lovells team was led by Singapore Office Managing Partner and India Practice Co-head Biswajit Chatterjee with support from counsel Kaustubh George, senior associate Varun Jetly and associates Utkarsh Mishra, Aditya Rajput and Suchisubhra Sarkar.
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