Luthra & Luthra Law Offices has recently completed a private placement of equity shares by RBL Bank Limited. The Firm acted as legal counsel to the Bank on all aspects of Indian law.
The deal was a private placement of equity shares by the Bank, pending approval for its IPO by SEBI. Having being completed after the filing of the Bank’s DRHP for its proposed IPO, it involved a careful balancing of disclosure requirements to ensure adequate information to the investors in the private placement on one hand, and compliance with SEBI Regulations prohibiting selective dissemination of material after the filing of a DRHP, on the other. The allotment under the private placement was made in tranches, which had to be carefully sequenced in order to ensure compliance with the Companies Act provisions.
The transaction team was led by Manan Lahoty (Partner) and ably assisted by Manshoor Nazki (Managing Associate), Rohan Sahai (Senior Associate), Ankit Thakur and Varsha Srinivasan (Associates).
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