Chola’s $130 Million Qualified Institutions Placement

Squire Patton Boggs advised Axis Capital and Ambit Capital on the deal.

Cholamandalam Investment and Finance Company Limited (Chola) executed a US$130 million qualified institutions placement (QIP).

Axis Capital and Ambit Capital acted as lead managers.

Cholamandalam Investment is a non-banking financial services company which is part of the Murugappa Group, a diversified Indian conglomerate with 28 businesses and operations across India, Russia, China and South Africa.

The Squire Patton Boggs team was led by US securities partner and co-head of the firm’s India Practice Biswajit Chatterjee (Picture), assisted by senior associate Kaustubh George and associates Nabil Shadab and Anandee Banerji.

Involved fees earner: Anandee Banerji – Squire Patton Boggs; Biswajit Chatterjee – Squire Patton Boggs; Kaustubh George – Squire Patton Boggs; Nabil Shadab – Squire Patton Boggs;

Law Firms: Squire Patton Boggs;

Clients: Ambit Capital Private Limited; Axis Capital Holdings Ltd.;

Author: Michael Patrini