Cyril Amarchand Mangaldas advises on fundraising by Aditya Birla Capital Limited

Business Wire IndiaCyril Amarchand Mangaldas advised Aditya Birla Capital Limited (ABCL) on its fundraise through issuance of equity shares aggregating to INR 3000 crore.
The Capital Markets practice of Cyril Amarchand Mangaldas advised ABCL on the transaction. The transaction team was led by Yash Ashar, Partner & Head Capital Markets; Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); with support from Rushab Dhandokia, Principal Associate- Designate; Shubham Sancheti, Senior Associate; Indira Satish, Associate; Harshvardhan Lahiri Associate; Raksha Raina, Associate; and Ved Chanduka, Associate.
The fundraise involved issuance of equity shares to the promoter and promoter group entities of ABCL, namely, Grasim Industries Limited and Surya Kiran Investments Pte Limited on a preferential basis amounting to INR 1,250 crores and a further issuance of equity shares by way of a qualified institutional placement to various qualified institutional investors amounting to INR 1,750 crores.
Other Parties and Advisors to the transaction included:

  • BofA Securities India Limited; Jefferies India Private Limited; Axis Capital Limited; ICICI Securities Limited; JM Financial Limited (acted as book running lead managers to the issue)
  • Sidley Austin LLP (acted as International legal counsel for book running lead managers)

The allotment pursuant to preferential issue was completed on June 26, 2023 while the QIP opened on June 26, 2023 and closed on June 30, 2023.