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Shardul Amarchand Mangaldas advises International Finance Corporation on the fundraise borrowing by Grasim Industries Limited
March 27, 2024
Shardul Amarchand Mangaldas advised International Finance Corporation in connection with subscription to the debentures issued by Grasim Industries Limited. The deal involved the issuer borrowing an amount of up to INR 12.5 billion through the issuance of fully paid-up, unsecured, unlisted, rated, redeemable, non-convertible debentures, on a private placement basis.
The transaction was one of the first issuances of non-convertible debt securities by a listed company to a multilateral institution pursuant to Regulation 62A of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The team was led by Shilpa Mankar Ahluwalia, Partner; Akshita Agrawal, Partner; Adheesh Agarwal, Senior Associate and Arjun Khandelwal, Associate.
S&R associates acted as the legal counsel to the Issuer.
