A man walks across the LED display board showing the logo of Vodafone-Idea at the India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. REUTERS/Anushree Fadnavis


Indian law firm Cyril Amarchand Mangaldas has advised Vodafone Idea on its 180-billion-rupee ($2.15 billion) further public offering (FPO). The issuance is the largest successful Indian FPO and the third-largest offering of public equity shares in India.

AZB & Partners and Sidley Austin guided Axis Capital, Jefferies India and SBI Capital Markets, the book-running lead managers to the FPO, while S&R Associates advised the Vodafone Group on the deal.  

This marked the first FPO by a company engaged in the telecommunication sector. CAM said in a statement that the issuance was one of the fastest completed FPOs, having been completed in 54 days from the date of kick-off meeting. The FPO was oversubscribed over six times.

CAM’s team on the deal was led by capital markets practice head Yash Ashar, and included partner Abhinav Kumar, principal associate Akshay Singh Ralhi, senior associates Jhalak Shah and Sanjana Ravjiani, and associates Harshvardhan Lahiri, Adwait Deshmukh, Raksha Raina, Sangram Kokate, Tanishq Mohta, Zeb Burk, and Shivendra Mehndiratta.

S&R’s team that assisted Vodafone was led by partners Rajat Sethi, Lakshmi Pradeep and Meher Mehta, and included associates Ishan Seth, Komal Parakh, Aakriti Jalota and Rohin Goyal.

The Sidley team was led by partner Manoj Bhargava and comprised partners Daniel O’Shea, Robert Kreitman, Nicholas Brown and Carla Teodoro, and managing associates Harekrishna Ashar and Alvin Wang.



Related Articles

Dentons bolsters HK office with dealmaker hire from Dechert

Global law firm Dentons has expanded its M&A and capital markets capabilities in Hong Kong after hiring corporate lawyer Stephen Chan as a partner from Dechert.

Birds to launch Tokyo office targeting Japanese outbound M&A

by Nimitt Dixit |

UK-headquartered Bird & Bird has announced plans to launch a Tokyo office to be led by newly hired corporate partner Hiro Iwamura. Iwamura joins from Ashurst, where he headed the firm’s UK/European-Japanese practice.

HK: Loeb & Loeb doubles down on cap markets with hires from CMS

by Sarah Wong |

U.S. law firm Loeb & Loeb has expanded its capital markets team in Hong Kong by hiring Shirley Lau and Polly Liu as partners from Lau Horton & Wise, the Hong Kong association firm of CMS that was founded by Lau.