Firm Matters

Khaitan & Co acted as the transaction counsel in relation to the maiden issue of listed, secured, rated, redeemable, non-cumulative, non-convertible debentures (“Debentures”) aggregating to INR 1000 crores in two series, on a private placement basis (“Issue”) by Shriram Pistons & Rings Ltd (“Issuer”). The proceeds of the Issue have been utilised, inter alia, for refinancing of the listed commercial papers issued by the Issuer for acquisition of 100% shareholding of i) Antolin Lighting India Pvt Ltd; ii) Grupo Antolin India Private Limited and iii) Grupo Antolin Chakan Private Limited. Axis Bank Limited acted as the arranger to the Issue. ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund and DSP Mutual Fund subscribed to Debentures aggregating to 30% (thirty percent) of the total size of the Issue as anchor investors.