New Delhi, Aug 31, 2015
Shardul Amarchand Mangaldas & Co. acted as the Indian counsel to Citigroup Global Markets India Private Limited, Deutsche Equities India Private Limited, Nomura Financial Advisory & Securities (India) Private Limited, JM Financial Institutional Securities Limited and Kotak Securities Limited (brokers).
The transaction was led by Mr. Prashant Gupta, Partner. His team included Mr. Sayantan Dutta, Partner and Ms. Shraddha Krishnan, Associate.
The INR 9,379 crore deal involved sale of 24,27,95,248 equity shares, constituting 10% of the equity shares of Indian Oil Corporation Limited (“Company”) by its promoter, the President of India, acting through and represented by the Ministry of Petroleum and Natural Gas, Government of India (“Seller”), pursuant to an Offer for Sale through the Stock Exchange Mechanism (“OFS”). The offer for sale was carried out on August 24, 2015.
Khaitan & Co. and Baker & McKenzie acted as the Indian and international legal counsels to the Seller, respectively. Jones Day acted as the international legal counsel to the brokers.
