Shardul Amarchand Mangaldas advised Axis Bank on its Rs. 11,626 crores fundraising from multiple global and Indian marque investors including funds affiliated with Bain Capital, Life Insurance Corporation of India and other investors.
The proposed investment would be one of the largest private equity investment in the Indian banking sector. The bank proposes to carry out the fund raising through a combination of equity shares and warrants by way of a preferential issue in terms of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
The transaction team was led by Shardul S. Shroff; Executive Chairman, and included Raghubir Menon, Regional Practice Head - Mumbai, M&A and PE, General Corporate; Abhishek Guha, Partner; Yogesh Chande, Partner; Ankit Kejriwal, Senior Associate; Anwesha Haldar, Senior Associate; Kanwardeep Kapany, Associate; Gaurav Malhotra, Associate; and Keegan Pavrey, Associate.
Other advisors to the involved in the transactions were as follows:
-AZB, Delhi (domestic legal counsel to Investor Group 1)
-Kirkland & Ellis (international legal counsel to Investor Group 1)
-JP Morgan (financial advisors to Investor Group 1)
-Axis Capital (financial advisors to Axis Bank Limited)
The deal was signed on November 10, 2017 and the closure is subject to completion of conditions precedent including approval of the shareholders of Axis Bank Limited.
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