JSA advised HDFC Bank Limited, BOB Capital Markets Limited, IDBI Capital Markets & Securities Limited, Motilal Oswal Investment Advisors Limited and Systematix Corporate Services Limited in relation to the qualified institutions placement by Bank of Maharashtra (“BOM”). BOM filed a placement document on June 6, 2023, for an issue of 350,877,192 equity shares to qualified institutional buyers approximately aggregating to ₹ 10,000.00 million.
BOM is amongst the prominent public sector banks in the state of Maharashtra. It offers a diversified portfolio of banking products and services to corporate, retail, agriculture and micro, small and medium enterprise customers. BOM’s operations are internally aligned into distinct business lines pertaining to (i) wholesale banking operations, (ii) retail banking operations, (iii) treasury operations, and (iv) other banking operations.
With the completion of this deal, JSA has successfully advised in the largest QIP by a bank in the last 18 months.
Our Equity Capital Market Team Lead Partner Arka Mookerjee, Partner – Siddhartha Desai, Associate – Govind Roy, and Associate – Reshmi Prabhakar.
Arka Mookerjee is a Partner and Co-Head of the Equity Capital Markets practice, with over 21 years of experience advising on India’s most complex and high-value transactions. Widely recognised for pioneering mandates—including India’s first QIP and InvIT IPO—he represents issuers, underwriters and investors across capital markets and investment structures. Arka actively engages with regulators and industry bodies, playing a key role in shaping India’s evolving capital markets framework.