Service: Qualified Institutional Placement

Book Running Lead Manager to the QIP of IndiaMART InterMESH Limited

Deal Highlights:

  • We successfully closed the 2nd transaction for IndiaMART in last 20 months, demonstrating our philosophy of “Invested in YOU”
    • July 2019 – IPO (₹ 4,750 mn)
    • February 2021 – QIP (₹ 10,700 mn)
  • The QIP received an overwhelming response, seeing participation by marquee FIIs across the world
  • One of the very few QIPs in Indian Capital Market which was priced at a premium to the closing price on the day of launch (0.67%)
  • Deal was closed under ~6 weeks from kick off to closure

Our Contribution:

  • In a 3-bank syndicate, procured highest share of 61.9% by number of investors and 60.8% by allocation amount
  • Managed to garner 5 out of Top 7 long only FII bids by amount including 2 of the largest bids above US$ 25 mn each
  • Garnered interest from marquee long only FIIs early to give confidence for launch at premium to last closing price……..A very rare feat !

“Flying Colours” – Book Running Lead Manager to the IPO of Indigo Paints Limited

Deal Highlights:

  • First IPO of a pure play paints company in the last 3 decades
  • Amongst the 6 highest mobilized issuances* in the last decade
    • QIB – ~189.8x; HNI – ~261.6x; Retail – ~13.7x; Overall 115.7x; 30 lacs+ applications
  • The deal was executed in one of the shortest timelines – IPO launched within 11 weeks of DRHP filing
  • The deal saw participation from diverse set of institutional investors across geographies and categories

Our Contribution:

  • We led the positioning efforts of the company garnering bids from marquee investors across categories – Sovereign Wealth Funds, FPIs as well as Domestic Funds
  • Only bank to procure bids from US only funds^
  • Played a pivotal role in value optimization for the company and selling shareholders
  • We pioneered the non institutional marketing efforts, translating into record breaking performance
    • Leveraged our pan-India network to help garner the highest no. of applications in a consumer issuance in the last decade
    • Tapped into our extensive wealth management network empowering one of the highest HNI mobilization

* As per amount mobilized
^ In the anchor book

Qualified Institutions Placement for the 2nd Largest Public Sector Bank* in India

Our Contribution:

  • We spearheaded the marketing efforts for the bank
    • Mobilised a disproportionately higher (~30%) share# in a 7 bank syndicate
    • Mobilised demand from a diverse investor set with a good mix of FIIs and DIIs
  • Procured the highest bid in the book#

Deal Highlights:

  • This is the largest PSU QIP launched in CY ’20
  • The deal witnessed participation from a diverse set of investors with an equitable split between FIIs and DIIs
  • The proceeds from the issue will be utilized to augment the Bank’s Tier I Capital to meet the Basel III and to support growth plans and to enhance the business of the Bank

* in terms of total business and deposits as on September 30, 2020; # – Ex-LIC bid

Qualified Institutions Placement of ₹ 4,000 mn

Deal Highlights:

  • 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

Distribution Powerhouse:

  • 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

Largest QIP by a private sector bank