Hogan Lovells advises on a brace of market leading equity deals in India

Hogan Lovells advises on a brace of market leading equity deals in India

Press releases | 21 December 2023

Hogan Lovells advised on Bank of India’s US$540 million equity offering and Indian Bank’s US$500 million equity offering, within a week of each other. Bank of India and Indian Bank are among the largest banks in India, and these two significant transactions marked a strong return to market for banks and financial institutions in India.

These transactions have been the second and third largest equity offerings by Indian public sector banks this year, following the success of the US$480 million offering by Cholamandalam Finance in October, the largest non-bank equity and equity linked offering, also advised by Hogan Lovells.

The Hogan Lovells team was led by Singapore Office Managing Partner and India Practice Co-head Biswajit Chatterjee with support from counsel Kaustubh George, senior associate Varun Jetly and associates Utkarsh Mishra, Aditya Rajput and Suchisubhra Sarkar.

About Hogan Lovells Equity Capital Markets practice

Our global equity capital markets teams work seamlessly together to provide integrated advice on complex and time-sensitive cross-border transactions. Our vast experience in all types of legal, financial, regulatory, tax, and corporate governance issues makes us uniquely qualified to assist foreign private issuers, U.S. issuers, and their underwriters as those companies embark on their IPOs and make the transition to public ownership.

In the Asia-Pacific region, we possess a wealth of experience on equity and capital markets transactions, from IPOs, dual listings, share placements, rights issues, to convertible notes and other securities.

About Hogan Lovells India practice

Hogan Lovells India practice consists of lawyers across its global network of offices ranging from Northern California to the East Coast of Australia. The Singapore office is the firm’s regional hub for India, Southeast Asia, and South Asia. With strong local relationships and keen market knowledge, we work successfully across borders to help clients develop infrastructure projects, seek investment opportunities, raise capital, restructure businesses, and resolve disputes and intellectual property issues in India.