Exclusive financial advisor to Bannari Amman Spinning Mills Ltd. (BASML)

Deal Highlights:

COVID – 19 implications posed multiple challenges such as plant shutdowns, labour shortage, supply chain disruption, subdued demand etc., which affected BASML’s liquidity position
Comprehensive Debt Resolution involved:
- Addressal of cashflow mismatch by securing principal moratorium & extension of tenor of loans
- Avoidance of bundled repayment obligations by restructuring repayment schedule within the extended repayment period
- Sponsor’s support for resolution plan helped keep the account classification intact as “Standard”
- Resolution of concern of Security Pooling amongst all lenders in Multiple Banking Arrangement

Effectively coordinated with all lenders under Multiple Banking Arrangement for successful closure within prescribed timelines
100% Lenders’ support achieved for invocation and implementation of resolution plan.
Critical handholding and strategic approach for all procedural diligences by external agencies.
Well thought through decisions helped foreseeing the challenges and resolving it in timely manner.

Edelweiss successfully closed the 2nd QIP transaction for Aarti Industries,
- June 21 – ₹ 12,000 mn | Mar 19 – ₹ 7,500 mn
- Left Lead to both transactions
The QIP received an overwhelming response from investors, reflecting Aarti’s ability as a leading global Spec-Chem Company

Deal was launched in ~4 weeks from kick off
We hand-held the Company in structuring the deal, end to end execution, swift regulatory approvals, thereby ensuring timely launch
Garnered participation from a diverse investor set – Book was oversubscribed with healthy demand from all categories of investors
This is our 7th deal closure in last 11 months for repeat clients; A great testimony of high-quality experience

SCML was facing persistent cashflow stress due to impaired viability in denim and garment business, which got accentuated due to COVID-19
Comprehensive Debt Resolution through Interest rate reduction by 4% – 5%, Interest holiday & principal deferment of 2 years & providing additional working capital support by relaxation in norms and extension of working capital cycle
Asset sale structured to serve twin objectives of conserving operational cashflows & to achieve early reversal of provisioning for banks
Factored extended timeline for sale of non-core assets, aiding in relatively higher realization, which is planned to be utilized for operations & debt reduction

Onboarded all lenders to participate in comprehensive restructuring irrespective of facilities and security structure
Building adequate working capital & liquidity support in to sustain operations till complete normalization
Improvised Resolution Plan to facilitate investment grade rating
One of the few cases where benefits of a deep restructuring exercise secured under RBI COVID Resolution framework
Perceived as a ‘Win-Win’ solution by lenders and the borrower, which was unresolved over past few years

The deal involves Wipro Enterprises, a leading Indian conglomerate signing definitive agreements to acquire controlling stake in PARI
The combined capabilities would help broaden Wipro Enterprises’ current offerings in industrial automation and help PARI tread the path of rapid growth by expanding its global footprint and deepening its market reach and customer relationships in India and overseas
The deal further strengthens our IB’s Industrial franchise and once again demonstrates our ability to close marquee deals for quality clients, independent of the market environment

PARI is India’s largest industrial automation solutions provider with offices in India, USA and Germany and has delivered 1,500 automation solutions to 75+ customers. It has marque global clients in automotive(traditional powertrain and EVs), real estate, banking, logistics, material handling & manufacturing sectors
PARI has 30+ years of experience in offering world class Industry 4.0 solutions to worlds leading automotive brands like Ford, Ferrari, FCA, Renault Nissan, M&M, BMW, Tata, Hero among others.

IPO of the only PSU defence shipyard constructing destroyers and submarines
A New Record – Highest overall subscribed PSU IPO (QIB – 89.87x, HNI – 668.03x, Retail – 30.81x, Employee – 1.47x, with over 26 lakh retail applications)
Mobilised ~INR 70,000 crs despite simultaneous IPOs open in the same issue period
Listed at a ~50% premium to the Issue Price

2nd successful shipyard IPO executed by us, prior one being Cochin Shipyard in Aug’ 17
We led the positioning efforts, highlighting the GOI’s ‘Make in India’ initiative and company’s exemplary track record
Converted multiple marquee Long Only investors which helped set the valuation benchmark as well as provide demand momentum to launch the IPO
Tapped into our strong retail and HNI distribution network
Provided end-to-end handholding and guidance to DIPAM on various deal contours and timing

We successfully closed the 4th deal for Amber Enterprises in ~4 years, true to our philosophy “Invested in YOU”
- Jan’ 17 – Private placement to ADV Opportunities Fund
- Dec’ 17 – Pre-IPO placement
- Jan’ 18 – IPO (left lead banker); and
- Sep’ 20 – QIP (left lead banker)
Seamless execution in record time – deal closed within 3 weeks
QIP was priced at a tight discount of ~3% to the previous close

In a 2-banker syndicate, procured 60% + share of demand; brought 13 out of 19 investors
Mobilised ~ 80% of the total FII demand from long only accounts
Garnered high quality long only investors across regions including US, Europe, Asia and India