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Hindalco Industries QIP

- US$600.00 m

  • Entry date - Tuesday, 5 January 2010
  • Jurisdiction - India
  • Practice - Equity Market
  • Deal marks second-largest Indian QIP in 2009


  • Firm - Amarchand & Mangaldas
  • Client - Hindalco Industries
  • Lead Lawyers -
  • Role - Indian counsel
  • Firm - AZB & Partners
  • Client - Joint financial arrangers
  • Lead Lawyers - Shameek Chaudhuri
  • Role - Indian counsel
  • Firm - Jones Day
  • Client - Joint financial arrangers
  • Lead Lawyers - Jeffrey Maddox, Karun Cariappa, Manoj Bhargava
  • Role - Int. Counsel

Deal summary

  • Hindalco is the 5th largest aluminium producer in Asia. Deal marks second-largest Indian QIP in 2009 (Axis Bank's $625 million)

  • Jones Day collaborated closely with Amarchand & Mangaldas and Hindalco to ensure requests from financial arrangers were met from a legal perspective

  • Hindalco did not engage international legal counsel - Jones Day assisted with US legal issues that arose during the course of the QIP

  • Both AZB and Jones Day advised financiers in Hindalco’s 2008 US$1.1bn rights offering

  • Manoj Bhargava,  Jones Day:One issue that always comes up is the size of the company and its operations. Hindalco has businesses everywhere, so as a result we are doing due diligence, reviewing documents and talking to management in a number of countries in four continents.”


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