AZB & Partners was legal counsel to Delta Corp, the only listed company in India’s casino gaming industry, in its recent US$85.2 million qualified institutional placement of approximately 35 million equity shares.
AZB’s team drafted the offer document and transaction agreements. The team comprised partners Varoon Chandra and Lionel D’Almeida and senior associate Richa Choudhary.
Chandra told India Business Law Journal that the “transaction was executed in an extremely smooth manner, within a highly compressed timeline of just over a month between kick-off and launch” and that it “saw very healthy subscription levels, despite having been marketed only to Indian residents”. Zia Mody, the managing partner of AZB, is married to Jaydev Mody, a promoter and non-executive chairman of Delta Corp.
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