Amarchand, S&R and Jones Day act on SKS Microfinance’s Rs. 400 crore QIP
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Amarchand, S&R and Jones Day act on SKS Microfinance’s Rs. 400 crore QIP

Pallavi Saluja

Amarchand Mangaldas advised micro lender SKS Microfinance in raising Rs. 400 crore though a sale of 17.7 million equity shares to qualified institutional investors. This is the single largest capital raise in the microfinance sector since SKS Microfinance’s IPO in August 2010, according to VCCircle.

The Amarchand team was led by Mumbai based Capital Market Partners Yash Ashar, Abhimanyu Bhattacharya and Anshuman Jaiswal.

S&R Associates acted as Indian legal counsel for the Book Running Lead Managers Credit Suisse Securities, Espirito Santo Securities and Kotak Mahindra Capital while Jones Day acted as International Legal Advisors to the BRLMs with a team led by Partner Manoj Bhargava.

The S&R Associates team was led by Partner Sandip Bhagat.

The proceeds raised from the QIP will be utilised to meet the capital requirements of company for next three years.

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