Khaitan & Co, Hogan Lovells, CAM assist on Grasim Industries Rights Issue

Grasim Industries Limited has made a rights issue of up to 2.2 crore equity shares to raise ₹3,999.80 Crore .

Axis Capital Limited, BofA Securities India Limited, Jefferies India Private Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited were the lead managers to this rights issue.

Khaitan & Co acted as domestic legal counsel to the lead managers.

The transaction team consisted of Abhimanyu Bhattacharya (Partner), Subhayu Sen (Partner), Aayush Mohata (Partner), Aparna Bagree (Principal Associate), Johann Valladares (Associate), Ayushi Saumya (Associate), Kanchi Malhotra (Associate) and Kaushlendra Palawat (Associate).

Hogan Lovells advised the lead managers, Axis Capital, Bank of America, Jefferies, JM Financial, Kotak Mahindra Capital Company and SBI Capital Markets on this transaction.

The transaction team consisted of Biswajit Chatterjee (India Practice Co-Head), Kaustubh George (Counsel), Varun Jetly (Senior Associate), Utkarsh Mishra (Senior Associate), Aditya Rajput (Associate) and Suchisubhra Sarkar (Associate). 

Cyril Amarchand Mangaldas acted as the Indian legal counsel to Grasim Industries.

The transaction team was led by Yash J. Ashar (Partner,Head – Capital Markets) and Abhinav Kumar (Partner, Regional Head Markets Practice (Western Region)) with support from Amitpal Singh (Principal Associate), Akshay Singh Ralhi (Principal Associate Designate), Sanjana Ravjiani (Associate), Ayana Banerjee (Associate), Alok Agrawal (Associate), Arunimaa Jaiswal (Associate) and Shivendra Mehndiratta (Associate).

Grasim Industries Limited is the flagship Company of the Aditya Birla Group which operates in various segments such as viscose, chemicals, cement, financial services and others (primarily textiles, insulators, paints, B2B e-commerce and renewable energy). The proceeds from the fund raise by the Aditya Birla Group shall be utilized towards settling existing debt obligations.

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