India Inc sticks to QIP route Kanga Wadia Ghandy Amarchand and Crawford Bayley benefit

United Spirits Limited (USL), which is expecting to raise about Rs. 1,612 crores ($350 million) through its Qualified Institutional Placement (QIP), has been advised by Kanga & Co. The joint global coordinators, CitiGroup, CLSA, UBS Securities and Morgan Stanley, were advised on domestic law by Wadia Ghandy, Mumbai, and on English law by Linklaters, London. The in-house compliance requirements were handled by the Senior Vice President and Company Secretary, V.S. Venkataraman. USL is planning to use the proceeds from the QIP to repay its debts.