Shardul Amarchand Mangaldas & Co acted as the sole transaction counsel in relation to the Qualified Institutions Placement by Satin Creditcare Network Limited. The Company is the fifth largest microfinance institution in India, engaged in the business of providing collateral free, microcredit facilities to individuals having limited access to mainstream financial service providers and also offers loans to individual business, micro, small and medium-sized enterprises, for development of water connection and sanitation facilities and product loans for financing of solar lamps.
The Capital Markets Team Shardul Amarchand Mangaldas & Co Team was led by Mr. Prashant Gupta, Partner & National Practice Head – Capital Markets, and included Ms. Manjari Tyagi, Counsel, Ms. Ishita Kashyap, Associate, Mr. Ankit Jaiswal, Associate and Ms. Prashasti Janghel, Associate.
The transaction involved Qualified Institutions Placement of 4,529,970 equity shares of face value of INR 10 each of Satin Creditcare Network Limited at a price of INR 551.88 per equity share aggregating to INR 250 Crore.
The parties involved in the transaction were Satin Creditcare Network Limited (the “Issuer”), Edelweiss Financial Services Limited and Religare Capital Markets Limited (the “Lead Managers”)
The value of the deal was INR 250 Crore.
The Issue opened on September 26, 2016 and closed on September 29, 2016. The transaction closed on October 3, 2016.
About Shardul Amarchand Mangaldas & Co
Founded in 2015, Shardul Amarchand Mangaldas & Co., is one of India’s leading law firms rated by International organisations, law directories and professional journals. As a full service law firm, it is renowned in the business community for its ability to enable business, its innovative solutions, its responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” with a legacy of 99 years.
The Firm has over 430 lawyers, including 85 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurgaon, Ahmedabad, Kolkata, Bangalore and Chennai.