Amarchand, Khaitan, Jones Day act on Adani Ports $180 million IPP

Amarchand Mangaldas, Khaitan & Co and Jones Day advised on India’s largest private port developer and operator, Adani Ports’ $180 million (Rs. 1042 crore) Institutional Placement Program (IPP)..Amarchand Mangaldas advised Adani Ports with a team led by Mumbai based Partners Yash Ashar and Gaurav Gupte..Jones Day advised a syndicate of ten banks, comprising DSP Merrill Lynch, Morgan Stanley, Goldman Sachs, Standard Chartered, SBI Capital Markets, Axis Capital, Citi, Deutsche Equities, IDFC and Macquarie Capital while Khaitan & Co acted as domestic legal counsel to the banks..The Jones Day team was lead by Partner Manoj Bhargava, along with Tax Partner Colleen Laduzinski and Associates Nikhil Naredi, Kevin Khan and Brandon Morris..Khaitan & Co team was led by Partner Nikhilesh Panchal along with Executive Director Sudhir Bassi..On June 4, the SEBI passed an order against the promoters and directors of 105 companies that failed to achieve and maintain a 25% public holding by June 3, 2013, the deadline for complying with the minimum public holding norms which were notified by the SEBI on June 4, 2010. Adani Ports was one among the 105 non-compliant firms..However, following the IPP, which got subscribed 2.27 times, the public shareholding in Adani Ports has gone up to 25.83%, reports Mint.