Duane Morris & Selvam Advises Book Running Lead Managers in IDFC FIRST Bank’s INR 30 Billion (US$361 Million) Qualified Institutions Placement of Equity Shares

SINGAPORE, 23 October 2023 — Duane Morris & Selvam LLP acted as the international legal counsel to ICICI Securities Limited, Jefferies India Private Limited, J.P. Morgan India Private Limited and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) in their role as the book running lead managers for the qualified institutions placement of equity shares by IDFC FIRST Bank Limited, for an aggregate amount of INR 30 billion (US$361 million).

This is the third QIP by IDFC FIRST Bank (including a QIP by Capital First) that Duane Morris & Selvam has advised on. IDFC FIRST Bank, a prominent private sector universal bank in India, serves a diverse clientele across consumer, SME, and wholesale sectors, extending its reach to urban and rural geographies.

Duane Morris & Selvam’s team was led by Jamie Benson, a director in the Singapore office and head of the U.S. capital markets, U.S. venture capital and India practices. The team also included, Hope Krebs, a partner in the Philadelphia office; Bei Wang, a special counsel in the Singapore office; Sally Kim, a senior associate in the Singapore office; and Ming Ze Yeo, Marcus Ng and Brian Sim, associates in the Singapore office.

“We are delighted to have advised the book running lead managers on this significant transaction,” said Benson, “Our team’s dedication and knowledge played a pivotal role in navigating the complexities of this high-speed QIP. We’ll remain committed to providing unparalleled legal counsel to our clients.”

About Duane Morris & Selvam LLP

Duane Morris & Selvam LLP is the joint law venture between Duane Morris LLP and Selvam LLC, with its headquarters in Singapore. By way of its global platform and extensive range of legal services, the firm helps companies conduct business in and out of Asia, the United States, Latin America, the United Kingdom and beyond. In addition to the excellent skills of its lawyers, clients benefit from the cultural fluency and key relationships that the firm has developed over many years of practising law throughout the region. The firm has a presence in the key markets of Southeast Asia, including Singapore, Hanoi, Ho Chi Minh City and Yangon, as well as an office in Shanghai. Supporting these regional offices, the firm operates a series of country desks for India, Indonesia, Korea and Japan. It is regularly ranked among the region’s leading law firms by Chambers & Partners, The Legal 500 and IFLR1000.

Disclaimer: This article has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm’s full disclaimer.

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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