Reliance Industries’ US$7 billion rights offering was recognized by FinanceAsia as “Best of South Asia” at its 2020 Achievement Awards. The annual ceremony recognizes the best three financial markets transactions since December 1, 2019 across China and Hong Kong, the frontier markets — Northeast Asia, South Asia, and Southeast Asia.
Sidley acted as U.S. counsel to Reliance Industries Limited in connection with its US$7 billion rights offering pursuant to Section 4(a)(2) and Regulation S. This is the largest rights offering by a nonfinancial services company in the world in the last 10 years. This is also India’s largest rights issue ever, where offers and sales were also made to qualified institutional buyers in the U.S. and institutional investors outside of India.
The Singapore-based Sidley team was led by partner Manoj Bhargava, with support from partners Ankit Kashyap, Robert L. Meyers, and Matthew Sheridan, senior associate Varun Jetly, and staff attorney Rachna Talati.
