Grasim Industries Limited has initiated a rights issue to raise funds, offering up to 2.2 crore equity shares with the aim of securing ₹3,999.80 Crore.
The lead managers overseeing this rights issue include Axis Capital Limited, BofA Securities India Limited, Jefferies India Private Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited.
Khaitan & Co acted as domestic legal counsel to the lead managers.
The transaction team consisted of Abhimanyu Bhattacharya (Partner), Subhayu Sen (Partner), Aayush Mohata (Partner), Aparna Bagree (Principal Associate), Johann Valladares (Associate), Ayushi Saumya (Associate), Kanchi Malhotra (Associate) and Kaushlendra Palawat (Associate).
Hogan Lovells provided legal counsel to the lead managers, including Axis Capital, Bank of America, Jefferies, JM Financial, Kotak Mahindra Capital Company, and SBI Capital Markets, for this transaction.
The team handling the transaction comprised Biswajit Chatterjee (Co-Head of India Practice), Kaustubh George (Counsel), Varun Jetly (Senior Associate), Utkarsh Mishra (Senior Associate), Aditya Rajput (Associate), and Suchisubhra Sarkar (Associate).
Cyril Amarchand Mangaldas served as the legal advisor for Grasim Industries in India.
The transaction was overseen by Yash J. Ashar (Partner, Head of Capital Markets) and Abhinav Kumar (Partner, Regional Head of Markets Practice for the Western Region), supported by Amitpal Singh (Principal Associate), Akshay Singh Ralhi (Principal Associate Designate), Sanjana Ravjiani (Associate), Ayana Banerjee (Associate), Alok Agrawal (Associate), Arunimaa Jaiswal (Associate), and Shivendra Mehndiratta (Associate).
Grasim Industries Limited, the flagship company of the Aditya Birla Group, operates across various sectors including viscose, chemicals, cement, financial services, and others such as textiles, insulators, paints, B2B e-commerce, and renewable energy. The funds raised by the Aditya Birla Group will be utilized to settle existing debt obligations.
