Punjab National Bank’s Raising Found

Punjab National Bank's Raising Found

Cyril Amarchand Mangaldas advised the managers, ICICI Securities, Axis Capital, Edelweiss Financial Services, IIFL Securities, SBI Capital Markets, YES Securities (India) and PNB Investment Services on the deal.

Punjab National Bank (PNB) raised approximately INR 3,788.04 crore through a qualified institutions placement of 1,06,70,52,910 equity shares of face value INR 2 each, at a price of INR 35.50 per equity share (at a discount of 4.95% i.e., INR 1.85 per equity shares on the Floor Price), including a premium of INR 33.50 per equity share.

The Cyril Amarchand Mangaldas team was led by partner Shatarupa Dasgupta (Picture), with support from principal associate Anjaneya Das, senior associate Nayan Jain, associate Ambuj Gupta, associate Rishav Buxi, associate Aakansha Bhardwaj, and associate Sanjana Ravjiani.

Involved fees earner: Aakansha Bhardwaj – Cyril Amarchand Mangaldas; Rishav Buxi – Cyril Amarchand Mangaldas; Anjaneya Das – Cyril Amarchand Mangaldas; Shatarupa Dasgupta – Cyril Amarchand Mangaldas; Ambuj Gupta – Cyril Amarchand Mangaldas; Nayan Jain – Cyril Amarchand Mangaldas; Sanjana Ravjiani – Cyril Amarchand Mangaldas;

Law Firms: Cyril Amarchand Mangaldas;

Clients: Axis Capital Holdings Ltd.; Edelweiss Financial Services Ltd.; ICICI Securities Ltd.; IIFL Securities Ltd; PNB Investment Services Limited ; SBI Capital Markets Ltd.; Yes Securities;

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Author: Michael Patrini