Deal Closed | Bank of Baroda | Qualified Institutions Placement

The details of the deal are as follows:

Sector: Banking 

Announcement Date: 25-Feb-2021 

Completion Date: 03-Mar-2021 

Name of Client: Bank of Baroda 

Deal Description: Bank of Baroda’s qualified institutions' placement of 55,07,95,593 equity shares having face value of INR 2 each at a price of INR 81.70 per Equity Share, including a premium of INR 79.70 per Equity Share, aggregating to INR 4500 crore 

Total Consideration: USD 621.5 million (INR 4,500 crore) 

Team Members: Sudhir Bassi (Executive Director), Madhur Kohli (Partner), Chirayu Chandani (Counsel), Vijayaraghavan (Senior Associate), Manasvini Mukund (Associate) 

Role of Firm: Legal advisor to the Issuer as to Indian law 

Other legal advisors if any with names of Lead Lawyers

• Legal advisor to the book running lead managers as to Indian Law: Trilegal  

• Legal advisor to the book running lead managers as to U.S. law: Squire Patton Boggs 

Unique Feature of Transaction: The QIP was just closed in record time within an extremely crunched timeline. With an issue size aggregating to INR 45,000 million, it is thus far the largest QIP by deal value this year and is expected to be one of the largest. 

ICICI Securities Limited, Axis Capital Limited, BNP Paribas, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited and SBI Capital Markets Limited were the Book Running Lead Managers for the QIP.