Deal Closed | IDBI Bank Limited | Qualified Institutions Placement

IDBI Bank raises INR1,435 crore

The details of the  deal are as under: 

Sector: Financial Services 

Announcement Date:  15-Dec-2020 

Completion Date: 18-Dec-2020 

Name of Client:  IDBI Bank Limited - IDBI Bank Limited (“Bank”) is a diversified financial services entity offering a wide range of banking and financial services to corporate and retail customers throughout India. Apart from banking products and services, the Bank also offers trusteeship services, asset management, securities brokerage and private equity advisory services through its specialized subsidiaries. 

Deal Description: Advised IDBI Bank Limited in relation to its qualified institution's placement aggregating to INR 14,351.79 million as to Indian law. 

Total Consideration:: INR 14351.7 million (USD 196.7 million) 

Team Members: Sudhir Bassi (Executive Director), Thomas George (Partner), Nagashayana S (Principal Associate), Prathiksha Panduranga (Associate), Poorvi M Jain (Associate) 

Role of Firm: Legal counsel to IDBI Bank Limited as to Indian Law 

Other legal advisors if any with names of Lead Lawyers

IndusLaw acted as the legal adviser as to Indian Law to the Book Running Lead Managers ("BRLMs") and Linklaters Singapore Pte. Ltd. acted as the legal advisers as to United States Law to the BRLMs 

Unique Feature of Transaction: IDBI Bank Limited is one of the largest Indian banks offering a wide range of banking and financial services to corporate and retail customers throughout India. This was the first qualified institutions placement of IDBI Bank Limited post its listing.