Shardul Amarchand Mangaldas and Co advise in qualified institutions placement (QIP) and foreign currency convertible bonds (FCCB) issue of Bharti Airtel

January 17, 2020

Shardul Amarchand Mangaldas & Co (SAM & Co) has advised the managers to qualified institutions placement (QIP) and foreign currency convertible bonds (FCCB) issue of Bharti Airtel. The qualified institutions placement was for 32.36 crore equity shares at a price of INR 445 per equity share aggregating to INR 14,400 crore and the foreign currency convertible bonds due 2025, were issued for an aggregate amount of USD 1 billion.

The QIP and FCCB Issue together, is the first ever simultaneous QIP and FCCB issue and the largest dual tranche equity and FCCB offering ever in Asia-Pacific, the largest QIP by a private sector issuer ever in India and the largest FCCB offering from an Indian issuer.

The SAM & Co team was led by Mr. Prashant Gupta, Partner, National Practice Head; Ms. Manjari Tyagi, Partner; Ms. Trishita Dasgupta, Senior Associate; Mr. Maharghya Biswas, Associate; Mr. Romit Raja Srivastava, Associate; Mr. Sanjeev Chowdhary, Associate.