Talwar Thakore & Associates (TT&A) acted as legal counsel to the Lead Managers—ICICI Securities Limited, JM Financial Services Ltd, and Nuvama Wealth Management—on the qualified institutions placement (QIP) of equity shares for Capri Global Capital Limited.
TT&A’s scope included:
- Due Diligence: Comprehensive review of Capri Global’s corporate records, contracts, and regulatory filings.
- Transaction Documentation: Drafting and negotiating the placement agreement, investor letters, and offering documents.
- Regulatory Compliance: Securing approvals and coordinating filings with the Securities and Exchange Board of India (SEBI) and stock exchanges (BSE and NSE).
- Structuring Advice: Crafting the QIP structure to optimize pricing, investor eligibility, and lock-in requirements.
TT&A Team: Abhinav Kumar – Partner; Shubham Sancheti – Managing Associate; Indira Satish – Senior Associate; Keshav Yadav and Akshita Sharma – Associates
Also read: Biocon Raises ₹4,500 Crore via QIP in Strategic Capital Market Move
Deal Overview
| Feature | Details |
|---|---|
| Issuer | Capri Global Capital Limited |
| Lead Managers | ICICI Securities, JM Financial Services, Nuvama Wealth Management |
| Instrument | Qualified Institutions Placement of Equity Shares |
| Equity Shares | 136,518,770 shares (face value ₹1) |
| Issue Price | ₹146.50 per share (₹1 face + ₹145.50 premium) |
| Amount Raised | ₹20,000 million |
| Sector | Financial Services |
| Status | Completed; fully subscribed |
| Regulatory Approvals | SEBI, BSE, NSE |
Strategic Significance
This QIP enables Capri Global Capital to bolster its capital base, supporting expansion of its lending and wealth management businesses. The raised funds will back new product launches, geographic expansion into Tier II/III markets, and repayment of high-cost borrowings. For the Lead Managers, the transaction underlines their expertise in handling large-scale equity placements in India’s evolving financial sector.
Why It Matters
- Market Confidence: Full subscription at a premium price reflects strong investor confidence in Capri Global’s growth trajectory and credit quality.
- Sector Trend: Continued appetite for QIPs highlights institutional investors’ interest in financial services firms with robust risk management and digital capabilities.
- Legal Complexity: The deal demonstrates the critical role of pre-deal due diligence and regulatory coordination in high-value equity issuances under SEBI’s stringent guidelines.
This “Deal Alert” underscores how effective legal advisory and transaction structuring can drive successful capital raises in India’s dynamic financial markets.
Also read: Shardul Amarchand Mangaldas Advises on MakeMyTrip’s Landmark
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
