CAM, Khaitan, and Linklaters act on Vedanta QIP - largest in India’s metals and mining sector

Vedanta, a subsidiary of Vedanta Resources Limited, has successfully raised ₹8,500 crore ($1 billion).

The QIP was subscribed nearly three times, with the allotment being completed on July 20.

Cyril Amarchand Mangaldas advised Vedanta on this QIP.

The transaction team consisted of Yash J Ashar (Senior Partner), Sanjana Ravjiani (Senior Associate), Harshvardhan Lahiri (Associate), Arikta Shetty (Associate), Devansh Raheja (Associate), Hitesh Nagpal (Associate), and Zeb Burk (Associate).

Khaitan & Co advised the Book Running Lead Managers - Citigroup Global Markets India, JM Financial and Nuvama Wealth Management on this QIP.

The transaction team consisted of Sudhir Bassi (Executive Director), Madhur Kohli (Partner), Vaibhav Mittal (Partner), Ritika Khare (Senior Associate), Kanchi Malhotra (Associate), Saisha Bacha (Associate), Bhavna Sancheti (Associate), Sairandhri Nawale (Associate) and Vanshika Singh (Associate) with assistance from Mehul Shah on certain corporate matters.

Linklaters acted as international counsel to the book running lead managers.

The Linklaters team was led by Partner and Head of India Practice Amit Singh, with support from Counsel Joseph Wolpin, Managing Associate Kundhavi Suresh Kumar and Associate Yosua Kanata. 

This was the first ever QIP undertaken by Vedanta Limited since its listing in 1982. It can be considered as the single largest ever equity raise through the QIP route in India’s metals and mining sector. The QIP received an overwhelming response from global and domestic investors.

Vedanta Limited is a big conglomerate with multiple businesses and subsidiaries forming a part of the group.

The company will be using the proceeds from this QIP to reduce debt and meet capital requirements.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.