Axon Partners, Linklaters act on Jaiprakash Associates’ $250 million QIP
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Axon Partners, Linklaters act on Jaiprakash Associates’ $250 million QIP

Pallavi Saluja

Jaiprakash Associates has raised Rs. 1,499 crore ($ 250 million) through the issuance of shares to qualified institutional investors.

Axon Partners acted as domestic legal counsel for the Global Coordinators and Book Running Lead Managers (GCBRLMs) Standard Chartered Securities (India) and CLSA India Limited while Linklaters Singapore acted as International legal counsel.

Jaiprakash Associates was advised by its in-house team.

The Axon team was led by Partner Abhimanyu Bhandari along with Senior Associate Vinay Sirohia and Associate Prashant Kumar.

The Linklaters team was led by Partner Kevin Wong along with Managing Associate Pallavi Gopinath Aney and Associate Andrea Tompkins.

Jaiprakash Associates is going to use the money to repay their long-term debt. The company’s gross debt is Rs 28,000 crore, reports moneycontrol.

Recently, GMR infrastructure also raised $246 million through QIP advised by Amarchand Mangaldas, Link Legal and Clifford Chance.

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