Cyril Amarchand Mangaldas has acted as the lenders legal counsel to Asian Development Bank (“ADB”) in relation to signing of definitive documents for subscription by ADB to unlisted, secured, unrated, redeemable and interest bearing non-convertible debentures, having face value of INR 100,000 each, up to INR equivalent of USD 25,000,000 (United States Dollars Twenty Five Million) in dematerialised form on a private placement basis, being issued by Vivriti Capital Limited, a non-banking financial company registered with the Reserve Bank of India (“Vivriti Capital Limited” or the “Issuer”).
The deal marks as the first-of-its-kind issuance by a medium-sized NBFC in India, with the proceeds to provide finance for companies engaged in sectors including electric vehicles, solar and wind energy, and waste management.
The transaction team was led by Manasvini Raj, Partner; with support from Apoorv Jain, Principal Associate; and Saaz Bhatia, Associate. The diligence team was led by Manasvini Raj, Partner; with support from Apoorv Jain, Principal Associate; Saurabh Sharma, Associate and Dhruv Agarwal, Associate. Santosh Janakiram, Senior Partner; provided strategic inputs on the transaction. The transaction was signed on 26th September, 2024, and closed on 18th October, 2024.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.
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