Linklaters has advised the book running lead manager on the qualified institutional placement (QIP) of equity shares by Piramal Finance Limited (Piramal Finance), raising approximately INR 21bn (US$220m).
The offering attracted bids of approximately INR 210bn, representing nearly ten times the issue size. It drew strong participation from a diverse mix of leading domestic and international institutional investors.
Piramal Finance is an Indian non-banking financial company providing a diversified range of retail and wholesale lending solutions to individuals, micro-entrepreneurs and businesses across India.
The Linklaters team was led by partner and Head of India Practice Amit Singh, with support from capital markets counsel Joseph Wolpin, managing associate Anandee Banerji and associate Manish Soni.
Amit Singh, Head of India Practice at Linklaters, commented:
“We are delighted to have supported our client on this significant transaction, which reflects the continued development and sophistication of India’s equity capital markets. The transaction builds on our previous work in connection with Piramal Finance’s capital markets transactions and underscores our commitment to supporting clients on their strategic financing objectives.”
With more than 50 years of on-the-ground experience in Asia, Linklaters has an established reputation as a leading adviser on Indian capital markets transactions, combining international market expertise with deep experience advising clients on pioneering and strategically significant cross-border transactions. The firm regularly advises leading issuers, financial institutions and investors on complex capital markets mandates across India and the broader Asia-Pacific region.
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