Axis Bank’s $1.77 Billion Qualified Institutions Placement of Shares

Latham & Watkins LLP advised Axis Bank on the offering.

Axis Bank Limited, one of India’s largest private sector banks, closed a US$1.77 billion Qualified Institutions Placement (“QIP”) to raise funds to enhance its capital adequacy, in accordance with the regulatory requirements, for its growth strategy and for general corporate purposes.

The offering was oversubscribed and anchored by several foreign portfolio investors, domestic mutual funds, and insurance companies.

Latham & Watkins corporate team was led by Singapore partner Rajiv Gupta (Picture), with Singapore associates Sarah Soh and Jairo Carvalho Lamatina.The team also included bank regulatory New York partners Courtenay Myers Lima and Alan Avery, with New York associate Pia Naib, tax New York partners Jiyeon Lee-Lim and Gregory Hannibal, with New York associates Ron Moore and Lauren Bewley, Investment Company Act Chicago partner Nabil Sabki, with Chicago associate John Reinert.

Involved fees earner: Alan Avery – Latham & Watkins; Lauren Bewley – Latham & Watkins; Jairo Lamatina – Latham & Watkins; Rajiv Gupta – Latham & Watkins; Gregory Hannibal – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; Ronald Moore – Latham & Watkins; Courtenay Myers Lima – Latham & Watkins; Pia Naib – Latham & Watkins; John Reinert – Latham & Watkins; Nabil Sabki – Latham & Watkins; Sarah Soh – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Axis Bank;