Sidley Advises on the US$215 Million Qualified Institutions Placement of Aditya Birla Capital Limited

Sidley acted as international counsel to lead managers BofA Securities India Limited, Jefferies India Private Limited, Axis Capital Limited, ICICI Securities Limited, and JM Financial Limited in connection with the US$215 million Qualified Institutions Placement (QIP) of equity shares of Aditya Birla Capital Limited.

Aditya Birla Capital Limited is the holding company for the financial services businesses of the Aditya Birla Group, a multinational conglomerate and Fortune 500 company headquartered in Mumbai, India. Through its subsidiaries and joint ventures, Aditya Birla Capital Limited provides nonbanking finance, housing finance, life insurance, standalone health insurance, asset management, stock and securities broking, and other financial services such as wealth services, insurance advisory, and asset reconstruction.

The Aditya Birla Group is one of the largest and most respected business houses in India, with businesses across a number of segments including financial services, metals and mining, cement, carbon black, textiles, garments, chemicals, paints, and mobile telecommunications.

The Sidley team was led by partner Manoj Bhargava and consisted of counsel Shashwat Tewary (Singapore); managing associate Harekrishna J. Ashar (London); associates Jayant Bhardwaj and Sarangan Rajesh Kumar (both based in Singapore); and partners Robert M. Kreitman, Nicholas R. Brown, Carla G. Teodoro, and managing associate Alvin Wang (all based in New York).

Sidley is one of the most experienced international law firms executing capital markets transactions in India and other Asian markets. The India Business Law Journal has ranked Sidley a Top Foreign Law Firm for India work for five consecutive years. Sidley was also ranked as the leading legal adviser globally for India equity offerings in 2022 for manager counsel and by overall deal count in the Bloomberg Global Legal Adviser League Tables FY 2022 and was credited for advising on 12 India equity offerings in 2022, more than any other law firm.