QIP route proves lucrative for Amarchand Mangaldas closes Hindalco Pantaloon Retail and Adhunik Metaliks QIPs

Bar & Bench November 30 2009

Qualified Institution Placements (QIPs) continue to be the favoured mode of fund-raising for India Inc this year. Amarchand Mangaldas, in particular, appears to have benefitted from this trend, closing three QIPS within the last two weeks alone. Amarchand Mangaldas' Bombay offices closed the $600 million (Approx. Rs. 2,800 crores) QIP for Hindalco Industries, as well as Pantaloon Retail's Rs. 500 crore ($107 million) QIP. The Kolkata and Delhi offices of Amarchand Mangaldas jointly advised the Rs. 137 crore ($29 million) QIP issue by Kolkata-based steel products manufacturer Adhunik Metaliks.

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