Khaitan & Co has advised India’s Bank of Baroda on its 45-billion-rupee ($622 million) qualified institutional placement (QIP), with Trilegal and Squire Patton Boggs representing the bookrunning lead managers.

This is the largest QIP by deal value in 2021 so far. According to Mint, the proceeds from the issue will be used to augment Bank of Baroda’s tier 1 capital and support its business growth plans.

The Khaitan team was led by partner Madhur Kohli and executive director Sudhir Bassi. Meanwhile, partner Bhakta Patnaik led the Trilegal team.


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