Piramal Finance Limited has successfully secured ₹2,100 crore through a Qualified Institutions Placement (QIP) of equity shares. The legal advisory for this significant financial maneuver was provided by Cyril Amarchand Mangaldas, Trilegal, and Linklaters, each offering their specialized expertise to various aspects of the transaction.
Cyril Amarchand Mangaldas Guides Piramal Finance
Cyril Amarchand Mangaldas took the helm as the legal advisor for Piramal Finance in this QIP. The transaction was spearheaded by Devaki Mankad, who serves as the Partner and Regional Co-Head of Capital Markets for the West region, alongside Partner Amitpal Singh. Their efforts were complemented by Associates Niharika Payannavar, Janhavi Deshmukh, Eashaan Agrawal, Mann Agrawal, Mitali Mangalam, and Riya Kumar. Strategic insights were provided by Senior Partner Yash J. Ashar, ensuring that the process was meticulously navigated.
Trilegal Represents Book Running Lead Managers
In this transaction, Trilegal represented the book running lead managers, including Nomura Financial Advisory and Securities (India) Private Limited, Motilal Oswal Investment Advisors Limited, and JM Financial Limited. The legal team was led by Partner Vijay Parthasarathi, supported by Counsel Saurav Das, and Associates Lajja Mehta, Joseph George, Rishabh Shah, Shivansh Anand, and Aarushi Jain, who is a Trainee Associate.
Linklaters as International Counsel
Linklaters provided its expertise as the international legal counsel for the book running lead managers, adding a global perspective to the transaction.
About Piramal Finance
Piramal Finance is a notable retail-led, upper-layer Non-Banking Financial Company (NBFC) with a comprehensive presence across India. As of June 30, 2023, it manages Assets Under Management (AUM) exceeding ₹1,00,000 crore, having served over six million customers spread across 26 states. The recent QIP attracted strong participation from a diverse array of leading domestic and international institutional investors. This capital infusion is expected to bolster the company’s balance sheet and capital base, enhancing its ability to pursue disciplined growth strategies.
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