Cyril Amarchand Mangaldas acted as the legal counsel to Bandhan Financial Holdings Limited (Bandhan Financial), in relation to sale of approximately 20% shares held in Bandhan Bank Limited (Bandhan Bank) aggregating to INR 10,500 crore. This Transaction was one of the largest stake sale in a financial services company through secondary market.
The Capital Markets Team of Cyril Amarchand Mangaldas advised Bandhan Financial on the Transaction. The Transaction team was led by Yash Ashar, Partner; and Abhinav Kumar, Partner; with support from Neha Samant, Principal Associate.
As a part of the Transaction, Bandhan Financial sold 33,73,67,189 equity shares of Bandhan Bank by way sale on the screen-based trading of BSE Limited (BSE) and National Stock Exchange of India Limited.
Other parties involved in the Transaction included Shardul Amarchand Mangaldas and Freshfields Bruckhaus Deringer (Legal counsels to Brokers); J.P. Morgan India Private Limited; Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited and JM Financial Institutional Securities Limited (Brokers to the Sale).
The Transaction was signed on August 2, 2020 and concluded on August 5, 2020.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co., whose pre-eminence, experience and reputation of almost a century has been unparalleled in the Indian legal fraternity. Tracing its professional lineage to 1917, the Firm of Cyril Amarchand Mangaldas is now the largest full-service law firm in India, with over 750 lawyers including over 141 partners, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.
The firm, Cyril Amarchand Mangaldas, was recently awarded with “India – Firm of the Year” at the AsiaLaw Regional Awards 2019 and “India Deal Firm of the Year” at the In-House Community Counsels of the Year Awards 2019. The firm was also named as the “Most Innovative National Law Firm of the Year – India for 2018” at the IFLR Asia Awards, having also been successful in winning the prestigious & coveted “National Law Firm of the Year, 2018 for India” at the Chambers Asia-Pacific Awards. The firm was also voted as the “Employer of Choice for 2018” from India, by the Asian Legal Business, now 4 years in a row, building upon the several awards that the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. had won in the past.
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