In a significant financial maneuver, Axis Finance Limited successfully issued rated, listed, secured, taxable, and redeemable non-convertible debentures (NCDs), amassing approximately $45 million. This issuance was conducted on a private placement basis and received expert legal guidance from CMS INDUSLAW.
The legal firm provided comprehensive advice throughout the transaction process. Their assistance included transaction structuring, drafting and negotiating the Debenture Trust Deed, and preparing essential issuance documents such as the General Information Document and Key Information Document. Furthermore, CMS INDUSLAW advised on regulatory compliance, listing requirements, and closing procedures.
The firm’s expertise extended to ensuring security protection provisions, structuring covenant packages, and outlining events of default, all while ensuring adherence to crucial laws including the Companies Act, 2013, and the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.
The dedicated transaction team comprised Abir Lal Dey (Partner), Khushi Sharma (Associate), and Soham Dwibedi (Associate), who collectively ensured the smooth execution of this sophisticated financial transaction.
Axis Finance stands as one of India’s rapidly expanding non-banking financial companies (NBFCs), offering bespoke financial solutions across retail, MSME, and wholesale sectors. This issuance involved a base issue of ₹175 crore, complemented by a green shoe option extending up to ₹200 crore, and achieved listing on the Bombay Stock Exchange.
