Shardul Amarchand Mangaldas advises ICICI Securities Limited, Goldman Sachs (India) Securities Private Limited and SBICAP Securities Limited on offer for sale

January 25, 2024

Shardul Amarchand Mangaldas advised ICICI Securities Limited, Goldman Sachs (India) Securities Private Limited and SBICAP Securities Limited (collectively, the “Brokers”), on the offer for sale through the stock exchange mechanism by the President of India acting through and represented by the Ministry of Power, Government of India (the “Seller”) of NHPC Limited (the “Company”). The deal is valued at approximately USD 293.12 million. The Sellers filed the notice for the offer for sale with the BSE Limited and the National Stock Exchange of India Limited on 17 January 2024.

The OFS involved a sale of up to 351,576,218 equity shares of NHPC Limited (representing 3.50% of the total paid up equity share capital of NHPC Limited, as on December 31, 2023) by way of an OFS through the stock exchange mechanism.

AZB & Partners and Hogan Lovells Lee & Lee advised the seller on the Indian and International legal aspects, respectively.

Linklaters Singapore Pte. Ltd. advised Goldman Sachs (India) Securities Private Limited on the International legal aspect.