Duane Morris & Selvam Advises on the OFS of Shares in Route Mobile

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SINGAPORE, 1 October 2024 – Duane Morris & Selvam LLP recently acted as US counsel to Nuvama Wealth Management and Emkay Global Financial Services in their role as brokers to Proximus Opal on its divestment of a 6.03% stake in Route Mobile for approximately Rs, 6,213 million (US$74 million) through an Offer for Sale (OFS). With this share sale, Proximus Opal reduced its holding in Route Mobile to below 75% in compliance with the minimum public shareholding criteria, in accordance with the regulatory guidelines set by the Securities and Exchange Board of India (SEBI).

Duane Morris & Selvam’s team was led by Jamie Benson, the head of the firm’s U.S. Capital Markets and India practices.

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.

Duane Morris & Selvam Advises on the IPO of Ecos (India) Mobility & Hospitality Limited

SINGAPORE, 10 September 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to Equirus Capital Private Limited and IIFL Securities Limited in their role as the book running lead managers on the recent initial public offering of ₹6,012.00 million (USD 71.60 million) of equity shares of Ecos (India) Mobility & Hospitality Limited. Ecos is India’s largest and most profitable chauffeur driven mobility provider to corporates.

Duane Morris & Selvam’s team was led by Jamie Benson, the head of the firm’s U.S. Capital Markets and India practices. The team also included Ananth Balaji Sundararaman, senior associate.

Trilegal acted as the legal counsel to the Offer.

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.

Duane Morris & Selvam Advises on the Sale of INR 7,500 million (US$90 million) of Equity Shares in Sansera Engineering Limited in Block Trades

SINGAPORE, 20 June 2024 — Duane Morris & Selvam LLP acted as the U.S. counsel to Nomura Financial Advisory and Securities (India) Private Limited in its role as the broker on the recent sale of approximately INR 7,500 million (US$90 million) of equity shares in Sansera Engineering Limited by Client Ebene Limited and CVCIGP II Employee Ebene Limited in block trades. Sansera Engineering Limited’s equity shares are listed on BSE and NSE. Continue reading “Duane Morris & Selvam Advises on the Sale of INR 7,500 million (US$90 million) of Equity Shares in Sansera Engineering Limited in Block Trades”

Duane Morris & Selvam Advises on the QIP of Texmaco Rail & Engineering Limited

SINGAPORE, 15 April 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and ICICI Securites Limited in their role as the book running lead managers on the recent qualified institutions placement of ₹2,500 million (USD 30 million) of equity shares of Texmaco Rail & Engineering Limited. Continue reading “Duane Morris & Selvam Advises on the QIP of Texmaco Rail & Engineering Limited”

Duane Morris & Selvam Advises on the QIP of The Karnataka Bank Limited

SINGAPORE, 10 April 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to Ambit Private Limited and Avendus Capital Private Limited in their role as the book running lead managers on the recent qualified institutions placement of ₹6,000 million (USD 72 million) of equity shares of The Karnataka Bank Limited.

The Karnataka Bank Limited, with over 100 years of existence, is one of the well-established private sector banks in India, offering wide range of banking products and services to approximately 12.93 million customers as of December 31, 2023, including corporate, retail, agriculture and MSME customers.

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Duane Morris & Selvam Advises on the QIP of Wockhardt Limited

SINGAPORE, 8 April 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to DAM Capital Advisors Limited in its role as the book running lead manager on the recent qualified institutions placement of ₹4,800.40 million (USD 58 million) of equity shares of Wockhardt Limited.
Wockhardt Limited is engaged in the research and development, manufacture and distribution of pure and branded generics, vaccines, biosimilars, active pharmaceutical ingredients as well as new chemical entity antibiotics targeting antimicrobial resistance.

Continue reading “Duane Morris & Selvam Advises on the QIP of Wockhardt Limited”

Duane Morris & Selvam Advises on the IPO of Popular Vehicles and Services Limited

SINGAPORE, 3 April 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to ICICI Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and Centrum Capital Limited in their role as the book running lead managers on the recent initial public offering of ₹6,015.54 million (USD 72 million) of equity shares of Popular Vehicles and Services Limited, a diversified automobile dealership in India.

Continue reading “Duane Morris & Selvam Advises on the IPO of Popular Vehicles and Services Limited”

Duane Morris & Selvam Advises Union Bank of India on the sale of INR 30,000 million (US$360 million) of its Equity Shares in a Qualified Institutions Placement

SINGAPORE, 21 March 2024 — Duane Morris & Selvam LLP acted as the international counsel to Union Bank of India (the “Union Bank’) on its recent sale of INR 30,0000 million (US$360 million) of its equity shares in a qualified institutions placement, including a private placement in the United States

Union Bank is a public sector bank. As at December 31, 2023, Union Bank of India had total advances of INR 8,959,740.80 million, a network of 8,479 branches, 9,889 ATMs, 18,987 business correspondents, an employee base of 76,372 and a customer base of over 152.40 million.

Continue reading “Duane Morris & Selvam Advises Union Bank of India on the sale of INR 30,000 million (US$360 million) of its Equity Shares in a Qualified Institutions Placement”

Duane Morris & Selvam Advises on Offer and Sale of approximately INR 5,700 million (US$69 million) of Equity Shares in Jana Small Finance Bank Limited


SINGAPORE, 27 February 2024 — Duane Morris & Selvam LLP acted as international legal counsel to Axis Capital Ltd., ICICI Securities Limited, and SBI Capital Markets, the book running lead managers, on the offer and sale of approximately INR 5,700 million (US$ 69 million) of equity shares in Jana Small Finance Bank Limited in an initial public offering in India and concurrent private placements outside India.

Continue reading “Duane Morris & Selvam Advises on Offer and Sale of approximately INR 5,700 million (US$69 million) of Equity Shares in Jana Small Finance Bank Limited”

Duane Morris & Selvam Advises on ESAF Small Finance Bank’s INR 4.63 Billion IPO

SINGAPORE, 28 November 2023 — Duane Morris & Selvam LLP acted as the international legal counsel to ICICI Securities Limited, DAM Capital Limited and Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) in their capacity as the book-running lead managers on ESAF Small Finance Bank Limited’s recent INR 4.63 billion (US$56 million) IPO, which also included concurrent private placements outside India, including in the United States. The bank’s equity shares were listed on the BSE and NSE.

Continue reading “Duane Morris & Selvam Advises on ESAF Small Finance Bank’s INR 4.63 Billion IPO”

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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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