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HomeLaw firmsDeals and TransactionsCAM acted on Indus Towers' equity share sale on stock exchanges.

CAM acted on Indus Towers’ equity share sale on stock exchanges.

CAM advised Placement Agents on Indus Towers’ equity share sale on stock exchanges

Cyril Amarchand Mangaldas & Co , acted as legal advisors to BofA Securities India Limited, Morgan Stanley India Company Private Limited, BNP Paribas Securities India Private Limited, and Jefferies India Private Limited (together, the “Placement Agents”) in relation to the sale of equity shares of Indus Towers Limited (“Company”) on the stock exchanges.

This transaction, conducted on June 18, 2024, marked one of the largest secondary trades in India.

The sellers, who are also promoters of Indus Towers, included Euro Pacific Securities Ltd, CCII (Mauritius), Inc., Asian Telecommunication Investments (Mauritius) Limited, Trans Crystal Ltd, Mobilvest, Prime Metals Ltd, Vodafone Telecommunications (India) Limited, and Al-Amin Investments Limited (collectively, the “Sellers”).

In this transaction, the Sellers disposed of 484.68 million equity shares, constituting approximately 17.98% of the total issued and paid-up equity share capital of the Company, through one or more share sales on the National Stock Exchange of India Limited’s screen-based trading platform, for a total consideration of approximately Rs. 153 billion.

CAM’s transaction team included Abhinav Kumar (Partner and Regional Head (Western region), Markets), Gokul Rajan  (Partner and Regional Head (Northern region), Markets) and Senior Associate Jhalak Shah.

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