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’s practice area covers primarily equity capital markets issuances which covers a wide range of products such as Initial Public Offerings, Rights Issues, Qualified Institutions Placements, Initial Public Offering of Infrastructure Trusts and foreign currency convertible bonds.