May 09, Delhi/Mumbai: Cyril Amarchand Mangaldas (CAM) advised Sterlite Technologies Limited (the “Company”), on a qualified institutions placement (“QIP”) of its equity shares, aggregating to INR 1,000 crores. The net proceeds of the QIP were proposed to be utilized towards (i) repayment, in full or part, of certain borrowings of the Company; and (ii) general corporate purposes.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was undertaken under the overall guidance of Yash J. Ashar, Partner & Head Capital Markets.
The transaction team was led by Gokul Rajan, Partner & Regional Head Markets Practice (Northern Region); with support from Aniran Ghoshal, Principal Associate; Sanjana Ravjiani, Senior Associate; Indira Satish, Associate; Aarushi Jain, Associate; Siddharth Tiwari, Associate; and Vatsala Parashar, Associate.
Other parties and advisors to the transaction included Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and Motilal Oswal Investment Advisors Limited, who acted as book running lead managers to the issue; and Hogan Lovells Lee & Lee, who acted as International legal counsel to the book running lead manager to the issue.
The QIP opened on April 8, 2024 and closed on April 12, 2024.
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