Firm Advises Axis Bank in its US$1.77B Qualified Institutional Placement of Shares

Transaction is the largest ever QIP by a private sector bank in India.

October 03, 2019

Axis Bank Limited, one of India’s largest private sector banks, recently closed a US$1.77 billion Qualified Institutions Placement (“QIP”) to raise funds to enhance its capital adequacy, in accordance with the regulatory requirements, for its growth strategy and for general corporate purposes. The offering was oversubscribed and anchored by several foreign portfolio investors, domestic mutual funds, and insurance companies. 

Latham & Watkins LLP represented Axis Bank in the offering with a corporate team led by Singapore partner Rajiv Gupta, with Singapore associates Sarah Soh and Jairo Carvalho Lamatina. Advice was also provided on bank regulatory matters by New York partners Courtenay Myers Lima and Alan Avery, with New York associate Pia Naib; on tax matters by New York partners Jiyeon Lee-Lim and Gregory Hannibal, with New York associates Ron Moore and Lauren Bewley; on Investment Company Act matters by Chicago partner Nabil Sabki, with Chicago associate John Reinert.


Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.