Shardul Amarchand Mangaldas & Co (SAM) along with Khaitan & Co and CMS INDUSLAW advised on the $457 Million IPO by the National Securities Depository Limited.
Shardul Amarchand acted as the Indian legal counsel to the book running lead managers, ICICI Securities Limited, Axis Capital Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, IDBI Capital Markets & Securities Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited on the Initial public offering (IPO) of NSDL (Issuer).
The IPO comprised an offer for sale of 50,145,001 equity shares aggregating to approximately USD 457 million by the selling shareholders, IDBI Bank Limited, National Stock Exchange of India Limited, State Bank of India, Administrator of the Specified Undertaking of the Unit Trust of India, HDFC Bank Limited, and Union Bank of India.
The Issuer is the largest depository in India and a prominent market infrastructure institution, registered with the Securities and Exchange Board of India.
The transaction was led by Partner Nikhil Naredi, Counsel Priya Awasthi, Principal Associate Tarun Srikanth, Senior Associate Shruthi Hariharan, Associate Manish Soni, Associate Soundarya Mathavan, and Associate Shariba Tasneem.
Khaitan & Co acted as Indian counsel for NSDL on its Initial Public Offer aggregating to ₹40,110 Million through an offer for sale by IDBI Bank, NSE India, UBI, SBI, HDFC Bank and the Administrator of the Specified Undertaking of the Unit Trust Of India. The NSDL IPO was subscribed 41.01 times.
The core team included Executive Director Sudhir Bassi, Partner Madhur Kohli, Partner Vaibhav Mittal, Senior Associate Ira Pandya, Senior Associate Sarjana Das, Associate Siddharth Jain and Associate Tejas Kothari.
CMS INDUSLAW advised the selling shareholders namely ‘National Stock Exchange (NSE), IDBI Bank, State Bank of India (SBI), HDFC Bank, Union Bank of India (UBI) and Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI)’ on the initial public offering of equity shares by National Securities Depository Limited (“NSDL”) for equity shares with a face value of ₹2 each.
CMS INDUSLAW Team included Kaushik Mukherjee (Partner), Kanika Sachdeva (Counsel), Anumeha Agrawal (Senior Associate) and Satakshi N Dixit (Associate).
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