Shardul Amarchand Mangaldas & Co. Advises in Relation to the Rs. 2200 Crore OFS of NBCC (India) Limited

Shardul Amarchand Mangaldas & Co. acted as the Legal Counsel to the brokers representing the President of India (Promoter), in relation to the Rs. 2,200 crore offer for sale (OFS), constituting 15% of the paid-up equity share capital of NBCC (India) Limited.

The Capital Markets team of Shardul Amarchand Mangaldas was led by Mr. Prashant Gupta, Partner, National Practice Head- Capital Markets and Mr. Sayantan Dutta, Partner and included Ms. Shraddha Krishnan Dash, Senior Associate, Mr. Devi Prasad Patel, Associate and Ms. Prashasti Janghel, Associate.

As a part of the transaction, the President of India, acting through the Ministry of Urban Development, Government of India (the “Seller”) sold upto 9,00,00,000 equity shares of face value of ₹ 2 each, through the Stock Exchange Mechanism. Axis Capital Limited, Citigroup Global Markets India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited acted as the Brokers to the Seller in this transaction (collectively, the “Brokers”).

The trade took place on October 20, 2016 (for non-Retail Investors) and October 21, 2016 (for Retail Investors and non-Retail Investors who chose to carry forward their un-allotted bids).

The parties involved in the transaction were the President of India, acting through the Ministry of Urban Development, Government of India as the Seller in the transaction; Axis Capital Limited, Citigroup Global Markets India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited acted as the Brokers to the Seller.

Other advisors to the transaction were Khaitan & Co. acting as the Legal Counsel to the Seller; Dorsey & Whitney LLP acting as the International Legal Counsel to the Seller and Herbert Smith Freehills acting as the International Legal Counsel to the Brokers.

About Shardul Amarchand Mangaldas & Co.

Founded in 2015, Shardul Amarchand Mangaldas & Co., is one of India’s leading law firms rated by International organisations, law directories and professional journals. As a full service law firm, it is renowned in the business community for its ability to enable business, its innovative solutions, its responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” with a legacy of 99 years.

The Firm has over 430 lawyers, including 85 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurgaon, Ahmedabad, Kolkata, Bangalore and Chennai.