Capital Markets - ARA LAW

Fluctuating financial markets and changing regulatory conditions are a part of the course in an emerging economy. ARA LAW’s capital markets lawyers always have their ear to the ground and bring to the table a deep understanding of not just their area of specialization, but also of the political and economic landscape as well as the ability to forecast policy directions that could have a bearing on their client’s business. The advice we offer to our clients on domestic and international securities transactions is always pragmatic and digs deep into our product knowledge.

ARA LAW regularly advises issuers, issue managers, underwriters, institutional investors, brokers, investment funds, listed companies and merchant bankers on domestic and international capital market transactions across a wide range of sectors on recognised stock exchanges in India and abroad. Our clients and our professional peers recognize us for our dexterity in navigating a complex market and regulatory environment to efficiently advise clients on all types of capital market transactions including initial public offerings, debt offering, foreign currency and convertible bonds.

Equity Offerings

Structuring, conducting legal due diligence, preparation and filing of stock exchange communications, review of publicity material and transaction documentation for Initial Public Offerings and listing on recognised stock exchanges in India and abroad, Follow-on Public Offers, Rights Issues , Institutional Placement Programmes, Offer for Sale on the stock exchanges and other secondary market issuances; Qualified Institutional Placements, Depository Receipts Issuances, along with advising on Takeovers/Tender offer/competitive offers and Buy-Back & Delisting of Securities, Continuing listing requirements, Corporate Disclosures and Corporate Governance issues.

Debt Offerings

Structuring, conducting legal due diligence and documentation of all types of domestic and international debt offerings including public issuance of non-convertible debentures; private placement of non-convertible debentures on the Wholesale Debt Market of the stock exchanges, issuance of commercial papers, foreign currency convertible bonds and medium term notes.

Derivative Transactions

Structuring, documentation and negotiation of complex derivatives transactions involving single or multiple jurisdictions in the areas of credit, equity, commodity with structures ranging from vanilla swaps, forwards and options to sophisticated hybrid securities and related credit and collateral issues.

Trust Listings

Structuring, documentation and negotiation of trust listing transactions such as real estate investment trusts, infrastructure investment trusts and business trusts on the Indian and overseas stock exchanges.

  • Advised Credit Suisse PE Asia Investments (Mauritius) Limited in relation to its divestment in equity IPO of Shree Ganesh Jewellery House Limited;
  • Advised Hutchison Max Telecom Limited in relation to its ADR offering listed on NASDAQ.
  • Represented Blue River Capital I LLC, the selling shareholder in the public issue of Aurangabad Electricals Limited.
  • Advised ICICI Prudential Assets Management Co. Ltd. in relation to (a) the procedure for extension of the redemption period of the NCD’s issued by Solaris Holdings limited; and (b) Debt investment in NCDs of Vodafone Essar Limited and Oscar Investments Limited; (c) review and modification of the ISDA Schedule in respect of the various Schemes of the ICICI Prudential MF.
  • Advised Pantheon Capital in relation to the issue of NCDs on private placement basis by a NBFC company and investment in exchange traded derivative products.
  • Advised IL&FS Trust Company in relation to the issue of debentures.
  • Advised Société Générale Bank on (a) the regulatory framework pertaining to investment in debt issuances, convertible and non convertible debt products in India; and (b) the settlement process in the case of transactions of Société Générale Bank’s portfolio management clients including compliance under the PMS Regulations.
  • Amongst the first Indian law firms to represent European Bank for Reconstruction and Development on the proposed financing of various East European subsidiaries of an Indian listed company and assist in structuring various modes of obtaining security from the Indian parent company in this regard.
  • Advised HDFC Asset Management Company Limited in relation to the structuring a new PMS product for investment in across business segments in real estate through various securities like debt, equity, mezzanine debt, structured finance products etc.
  • Advised Franklin Templeton in relation to the structuring and documentation pertaining to the PMS Product for private equity investments in unlisted securities across various sectors.
  • Advised DSP Merrill Lynch Fund Managers Limited in relation to discretionary and non discretionary PMS offerings.
  • Advised Enam Financial Consultants Private Limited in relation to the IPO of Kewal Kiran Clothing Limited.
  • Advised Donear Limited in relation to its follow-on public offering.
  • Advised Fortress Investment Group in relation to an IPO by a reputed Indian telecom infrastructure company.
  • Advised IDBI Bank Limited in relation to its rights issue and conducting the legal due diligence and drafting the letter of offer.
  • Advised Batliboi Limited in relation to its qualified institutional placement.
  • Advised Electrotherm India Limited in its qualified institutional placement.
  • Advised AEIF Fund(part of Delta Group) in an investment proposal during the initial public offering and subsequently in negotiations with Tata Group pursuant to the takeover of Hughes Telecom.
  • Advised Northgate Technologies Limited in relation to issue of GDRs and listing of Northgate Technologies Limited on the international stock exchange.
  • Advised BANCO EFISA, SA on structuring of GDRs and advising on Indian regulatory issues.
  • Advised Jain Irrigation Systems Limited in relation to its FCCB issuance listed on the Singapore Stock Exchange.
  • Advised KBC Financial Products (UK) Limited in relation to issue of FCCBs of Assam Company Limited and Gujarat NRE Coke Limited.
  • Advised Silverdale Services Limited in relation to the issue of FCCBs of (a) Karur K.C.P Packagings Limited; (b) Kanoria Chemicals & Industries Limited; (c) Sterling Holiday & Resorts Limited; and (d) Pioneer Embroidery Limited.
  • Advised Newedge Group, JAT Capital Management, L.P., Maverick Capital, Maura Global Management, LLC, a Cayman Island based Mutual Fund on various queries regarding P-Notes under the provisions of SEBI (FII) Regulations, 1995.
  • Advised Foseco Jersey Limited (Cinven Group) in relation to the open offer and advising on regulatory requirements and applications to SEBI.
  • Advised Maverick Capital on various queries regarding investment in P-Notes. and advised on SEBI regulatory provisions for investment in P-Notes by the Offshore Fund.