Amarchand Mangaldas acted as the legal counsel to Power Grid Corporation of India in connection with its US$1.13 billion further public offering of equity shares. The deal, which closed on 6 December, is the largest public offering in India since Coal India’s initial public offering in November 2010.
DLA Piper was the sole international counsel on the deal, advising the underwriters, Citigroup Global Markets, ICICI Securities, Kotak Mahindra Capital, SBI Capital Markets and UBS Securities. Domestic legal advice to the underwriters was provided by Delhi-based law firm S&R Associates.
The offering was undertaken under the fast track route in accordance with regulation 10 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
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