india capital markets deal list

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Dorsey & Whitney LLP India Capital Markets Practice

Transactions by the Dorsey & Whitney India Practice Group (through August 2016)

Qualified Institutions Placements (“QIPs”)

Dorsey acted as international counsel (with drafting responsibility) on the following matters:

Client(s) Issuer Type of Transaction Amount Raised

Morgan Stanley India Company Private Limited

JM Financial Institutional Securities Limited

CLSA India Private Limited

Citigroup Global Markets India Private Limited

Credit Suisse Securities (India) Private Limited

Goldman Sachs (India) Securities Private Limited

J.P. Morgan India Private Limited

IndusInd Bank Limited QIP in India and US private placement outside India

US$675 million

Edelweiss Financial Services

Marksans Pharma Limited

QIP in India and US private placement outside India

US$21 million

Barclays Bank Plc

Kotak Mahindra Capital Company

Motilal Oswal Investment Advisors

Dewan Housing Finance Corporation Limited


US$130 million

2

JM Financial

Standard Chartered

CEAT Limited QIP in India and US private placement outside India

US$64 million

Standard Chartered

JM Financial

Spark Capital

The Karur Vysya Bank Ltd


US$102 million

Credit Suisse Securities

Axis Capital

JM Financial

ING Vysya Bank Limited


US$147 million

Morgan Stanley India

JM Financial

CLSA India

HSBC Securities

IndusInd Bank Limited QIP in India and US private placement outside India

US$370 million


Development Credit Bank Limited

QIP in India and Regulation S private placement outside India

US$18.8 million

Enam Securities

Standard Chartered Securities India

Religare Capital Markets



QIP in India, Section 4(2) private placement in the US and Regulation S private placement outside India

US$62.2 million

3

Morgan Stanley India Company

IDFC Capital

JM Financial Consultants

BNP Paribas and UBS Securities India

IndusInd Bank Limited QIP in India, Section 4(2) private placement in the US and Regulation S placement outside India

US$253 million

IDFC Capital


The Dhanalakshmi Bank

QIP in India and a concurrent Regulation S offering outside India

RS. 3,807 million (US$85 million)




QIP in India, Section 4(2) private placement in the US and Regulation S placement outside India

Enam Securities

Centrum Capital

Magma Fincorp Limited

QIP in India, Section 4(2) private placement in the US and Regulation S placement outside India

Collins Stewart Inga

Antique Capital Markets

Unity Infraprojects Limited

QIP in India and a concurrent Regulation S offering outside India

4

Daiwa Securities SMBC India


Nomura Financial Advisory & Securities (India)


Axis Bank

Patel Engineering Limited

Concurrent QIP in India and Regulation S offering outside India

Anand Rathi Financial Services

Pioneer Investcorp

Ackruti City Limited Concurrent QIP in India and Regulation S offering outside of India


IDFC‐SSKI

IndusInd Bank Limited Concurrent QIP in India and Regulation S offering outside India


HSBC Securities and Capital Markets (India)


ibn18 Broadcast Limited



Citigroup Global Markets India

Marico Limited Concurrent QIP in India, Section 4(2) private placement in the US and Regulation S offering outside India


Mahindra Gesco Developers Limited

Concurrent QIP in India, Section 4(2) private placement in the US and Regulation S offering outside India

5

Initial Public Offerings (“IPOs”) and Follow‐on Offers




Axis Capital

Citigroup

Morgan Stanley

HDFC Bank

ICICI Securities

IDFC Securities

IIFL Holdings

SBI Capital Markets

The RBL Bank Limited IPO in India and concurrent Rule 144A offering


JM Financial


ICICI Securiteis

Thyrocare Technologies

IPO in India and concurrent Rule 144A offering

RS. 4,972 million (US$74.5 million)

IDFC Capital

Avendus Capital

Avendus Securities

Reliance Securities and Sharekhan

Tribhovandas Bhimji Zaveri Limited

IPO in India and concurrent Regulation S offering outside India


SBI Capital Markets

Goldman Sachs

ICICI Securities

JP Morgan

Power Grid Corporation of India Limited (Power Grid)

Follow‐on public offering, and Rule 144A offering

RS. 75.8 billion (US$1.7 billion)

Goldman Sachs (India) Securities


UBS Securities India

Orient Green Power Company Limited

IPO in India and Rule 144A offering


6

Enam Securities

IDFC Capital

Motilal Oswal Securities

Ashoka Buildcon Limited

IPO and concurrent Regulation S offering outside India


Enam Securities

Deutsche Equities (India)

Ramky Infrastructure Limited



UBS Securities India



RBS Equities (India)

Edelweiss Capital


NMDC Limited (Winner, India Business Law Journal’s “India Deal of the Year” award 2010)

Follow‐on public offering and Rule 144A offering

Rs.99,300 million (US$2,200 million)

J.P. Morgan India

Enam Securities

Persistent Systems Limited

IPO and Rule 144A offering

Rs.1,680 million (US$37.3 million)

Deutsche Equities (India)


Antique Stock Broking

DEN Networks Limited





Enam Securities

SBI Capital Markets



Pipavav Shipyard Limited



7

Enam Securities


SBI Capital Markets

NHPC Limited (NHPC) (Winner, India Business Law Journal’s “India Deal of the Year” award 2009)

Privatization, IPO, and Rule 144A offering

RS. 60,000 million (US$1,250 million)


ICICI Securities

Motilal Oswal Investment Advisers

Shriram EPC Limited IPO and Rule 144A offering



Enam Securities


Power Grid Corporation of India Limited (Power Grid) (Winner, India Business Law Journal’s “India Deal of the Year” award 2007)

Privatization, IPO, and Rule 144A offering



Enam Securities

Jyothy Laboratories Limited

Public offering and Rule 144A offering


DSP Merrill Lynch

Edelweiss Capital

Kolte Patil Developers Limited



Central Bank of India

Enam Financial Consultants

ICICI Securities



IDBI Capital Markets Services

Central Bank of India Privatization, IPO and Rule 144A offering


8



IVR Prime Urban Developers Limited




SBI Capital Markets

Indian Bank IPO and Rule 144A offering



ICICI Securities


Power Finance Corporation Limited (PFC)

Privatization, IPO and Rule 144A offering


ICICI Securities

SBI Capital Markets

IL&FS Investsmart

Tanla Solutions Limited




DSP Merrill Lynch

JM Morgan Stanley

Parsvnath Developers Limited





IL&FS Investsmart

ICICI Securities

Sobha Developers Limited




ICICI Securities

Deccan Aviation Limited (Air Deccan)



DSP Merrill Lynch Unity Infraprojects Limited



9

Jagran Prakashan Limited

DSP Merrill Lynch

ICICI Securities

Jagran Prakashan Limited (publisher of Danik Jagran)




ICICI Securities



Follow‐on public offering and Rule 144A offering


Bank of Baroda

DSP Merrill Lynch


JM Morgan Stanley


HSBC

SBI Capital Markets

Karvy Investor Services

other underwriters

Bank of Baroda Follow‐on public offering and Rule 144A offering


Andhra Bank, Citigroup Global Markets India

DSP Merrill Lynch



SBI Capital Markets

Andhra Bank Follow‐on public offering and Rule 144A offering


10

PVR Limited


ICICI Securities

PVR Limited IPO and Rule 144A offering


Union Bank of India


DSP Merrill Lynch



SBI Capital Markets

Union Bank of India Follow‐on public offering and Rule 144A offering


Kotak Mahindra Investments

Kotak Real Estate Fund

Invests in real estate in India and provides finance to companies in the real estate industry in India

US$160 million


Motilal Oswal Financial Services

IPO and concurrent Regulation S offering outside of India


Advanta India

UBS

Yes Bank

SSKI Corporate Finance

Advanta India Limited IPO and concurrent Regulation S offering outside India


Development Credit Bank


JM Morgan Stanley

Development Credit Bank


RS. 65.06 million (US$1 million)

11

Blue Bird (India) Limited

DSP Merrill Lynch

Blue Bird (India) Limited


RS. 921 million (US$19 million)

Offers for Sale (“OFS”)

Dorsey acted as international counsel on the following matters:


SBICAP securities

ICICI Securities

Edelweiss Securities

Deutsche Equities

National Thermal Power Corporation

OFS of the equity shares, Regulation S private placement outside India and concurrent Rule 144A offering in the US

RS. 50,000 million (US$750m)

Axis Capital Limited

Deutsche Equities India Private Limited

HSBC Securities

Capital Markets (India) Private Limited


Kotak Securities Limited

SBICAP Securities Limited

Steel Authority of India (SAIL)

OFS of the equity shares, Regulation S private placement outside India and concurrent Rule 144A offering in the US


12


Deutsche Equities India Private Limited

HSBC Securities

Capital Markets (India) Private Limited


Kotak Securities Limited

SBICAP Securities Limited

Steel Authority of India (SAIL)

OFS of 5.82 percent of the equity shares, Regulation S private placement outside India and concurrent Rule 144A offering in the US


AIM Listings



Jefferies International

Enam Securities Europe

CbaySystems Holdings Limited

AIM listing and concurrent Section 4(2) private placement in the US and Regulation S offering outside India

SKIL Ports & Logistics Limited

SKIL Ports & Logistics Limited

AIM listing and concurrent Section 4(2) private placement in the US and Regulation S offering outside India

13

Global Depositary Receipts (“GDRs”)



Citigroup Global Markets

Enam Securities Europe

Northgate Technologies Limited

International offering of GDRs, including a Rule 144A offering, and the listing of the GDRs on the Luxembourg Stock Exchange

Other QIPs

Dorsey acted as special counsel on the following matters:



IDFC Securities

Sharda Cropchem Limited


Inga Capital

IDFC Securities

Equirus Capital

Gammon Infrastructure Projects Limited



ICICI Securities

Wonderla Holidays Limited



SBI Capital Markets Limited

Sundaram‐Clayton Limited


14

ICICI Securities Limited

India Infoline Limited

TSR Darashaw Private Limited

Thomas Cook (India) Limited


Inga Capital K.S. Oils Limited Concurrent QIP in India and Regulation S offering outside of India

Almondz Global Securities

Excel Infoways Limited


Enam Securities

IDFC Capital

Shopper’s Stop Limited



3i Infotech Limited Concurrent QIP in India and Regulation S offering outside India

Enam Securities ING Vysya Bank Limited


Spark Capital Dynamatic Technologies Limited


Collins Stewart Inga

IL&FS Investsmart

Sadbhav Engineering Limited


Prime Securities Logix Microsystems Limited


15

Prime Securities S. Kumars Nationwide Limited


ICICI Securities McLeod Russel India Limited


Prime Securities Asian Electronics Limited


Anand Rathi

India Infoline

Emami Limited Concurrent QIP and Regulation S offering outside India

Other IPOs

Dorsey acted as special counsel on the following matters:


Enam Securities MT Educare Limited IPO in India and concurrent Regulation S offering outside of India

Enam Securities



Future Ventures India Limited


Avendus Capital

ICICI Securities

SPA Merchant Bankers

Parabolic Drugs Limited


16

IDFC‐SSKI

Edelweiss Capital

Man Infraconstruction Limited


SPA Merchant Bankers

India Infoline, Avendus Capital Private

SPA Securities

Reliance Securities

Infinite Computer Solutions Limited


Anand Rathi Financial Services

Intensive Fiscal Services

Gokul Refoils and Solvent Limited


Saffron Capital Advisors

Sejal Architectural Glass Limited


Allbank Finance Austral Coke & Projects Limited


Edelweiss Capital Renaissance Jewellery Limited


Enam Securities


Spark Capital

Consolidated Construction Consortium Limited


17


Karvy Investors

Koutons Retail India Limited


Edelweiss Capital TAKE Solutions Limited

IPO in India and concurrent Regulation S offering outside of India

ICICI Securities Bharat Earth Movers Limited


IL&FS Investsmart


Time Technoplast Limited


Edelweiss Capital MIC Electronics Limited


IL&FS Investsmart Page Industries Limited


Edelweiss Capital


Orbit Corporation Limited


Edelweiss Capital

IL&FS Investsmart

Meghmani Organics Limited


18


Redington (India) Limited



JM Morgan Stanley

Edelweiss Capital

Ambit Corporate Finance

Cinemax (India) Limited

IPO and offer for sale in India and concurrent Regulation S offering outside of India

Edelweiss Capital C&C Constructions Limited


SBI Capital Markets

India of Mudra Lifestyle Limited

IPO in India and concurrent Regulation S offering outside

SBI Capital Markets


ICRA Limited Offer for sale in India and concurrent Regulation S offering outside of India


Ess Dee Engineering Limited


SBI Capital Markets

ICICI Securities

Global Helicorp Limited

IOP and the offer for sale in India and concurrent Regulation S offering outside of India

19

IL&FS Investsmart Fiem Industries IPO in India and concurrent Regulation S offering outside India


Voltamp Transformers Limited

Offer for sale in India and concurrent Regulation S offering outside of India

SBI Capital Markets

Adhunik Metaliks Limited


IL&FS Investsmart

IDBI Capital Market Services

Uttam Sugar Mills Limited



Inox Leisure Limited IPO in India and concurrent Regulation S offering outside India

B.L. Kashyap and Sons Limited

B.L. Kashyap and Sons Limited


Nitco Tiles Limited Nitco Tiles Limited IPO in India and concurrent Regulation S offering outside India

ICICI Securities


South Indian Bank Follow‐on public offering in India and concurrent Regulation S offering outside India

20

JM Morgan Stanley


Entertainment Network (India)


SBI Capital Markets

ICICI Securities

Royal Orchid Hotels Limited


SBI Capital Markets

Educomp Solutions Limited


SBI Capital Markets

Everest Kanto Cylinder Limited


21

Representative transactions of John Chrisman prior to joining Dorsey & Whitney

Acted as international counsel to Morgan Stanley, Merrill Lynch and JP Morgan in the initial public offering in India of Tata Consultancy Services, India’s largest IT company, and concurrent Rule 144A offering.

Acted as international counsel to Merrill Lynch, Kotak Mahindra and Citigroup in the initial public offering in India of Patni Computer Services and concurrent Rule 144A offering.

Acted as international counsel to Bharti Tele‐Ventures in the initial public offering in India and concurrent Rule 144A offering.

Acted as international counsel to Credit Lyonnais Securities Asia in the INR 6 billion QIP equity capital raising by Educomp Solutions Limited.

Acted as international counsel to Merrill Lynch in the INR 5 billion QIP equity capital raising by Shree Renuka Sugars Limited.

Acted as international counsel to ABN AMRO and Citigroup in the INR5.5 billion equity private placement by IVRCL Infrastructures & Projects Limited.

Acted as international counsel to Kotak Mahindra Capital Company in the initial public offering in India of HT Media Limited (Hindustan Times) and a concurrent Rule 144A offering.

Acted as international counsel to DSP Merrill Lynch and Kotak Mahindra Capital Company in the initial public offering in India of Infrastructure Development Finance Company Limited and a concurrent Rule 144A offering.

Acted as international counsel to Yes Bank, DSP Merrill Lynch and Enam Financial Consultants in the initial public offering in India of Yes Bank Limited and a concurrent Rule 144A.

Acted as international counsel to Syndicate Bank, SBI Capital Markets, Enam Financial Consultants, JM Morgan Stanley and SSKI Corporate Finance in a follow‐on public offering in India of Syndicate Bank and a concurrent Regulation S offering outside India.

Acted as international counsel to Oriental Bank of Commerce, ICICI Securities, DSP Merrill Lynch, Kotak Mahindra Capital Company, Citigroup Global Markets India and Bajaj Capital in a follow‐on public offering in India of Oriental Bank of Commerce and a concurrent Rule 144A offering.

Acted as international counsel to SBI Capital Markets, DSP Merrill Lynch, ICICI Securities, JM Morgan Stanley, Kotak Mahindra Capital Company and Enam Financial Consultants in a follow‐on public offering in India of Allahabad Bank and a concurrent Rule 144A offering.

22

Acted as international counsel to Allsec Technologies Limited, IL&FS Investsmart and Kotak Mahindra Capital Company in the initial public offering in India of Allsec Technologies Limited and a concurrent Regulation S offering outside India.

Acted as special counsel to Enam Financial Consultants and JM Morgan Stanley in the initial public offering in India of Shringar Cinemas Limited and a concurrent Regulation S offering outsideIndia.

Acted as special counsel to SBI Capital Markets in the initial public offering in India of Provogue (India) Limited and a concurrent Regulation S offering outside India.

india capital markets deal list

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