SINGAPORE, 4 December 2023 — Duane Morris & Selvam LLP acted as the special international counsel to Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), ICICI Securities Limited and Motilal Oswal Investment Advisors Limited in their capacity as the book running lead managers on Texmaco Rail and Engineering Limited’s INR 7,500 million (US$ 89.9 million) qualified institutions placement of equity shares.
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”
Our capital markets practice in Singapore has had another good year in the year ended March 31, 2023. Thanks to our clients for their trust in us. Our deal highlights and awards and recognitions for the year ended March 31, 2023 are below.
Continue reading “Overview of our Capital Markets Practice for the Year ended March 31, 2023”
SINGAPORE, 25 March 2023―Duane Morris & Selvam LLP advised on two of the India Business Law Journal’s Deals of the Year 2022: Life Insurance Corporation of India’s (LIC) initial public offering, which is the largest IPO ever in India, and DreamFolks Limited’s IPO. Continue reading “Duane Morris & Selvam Advises on Two of the India Business Law Journal’s Deals of the Year 2022”
Special purpose acquisition companies (SPACs, or “blank check” companies), which are shell companies set up with the sole purpose of raising funds through an initial public offering (IPO) to acquire an existing target company, have seen a dramatic rise in the past year. High levels of liquidity and persistently low interest rates, coupled with a growing appetite among investors for higher-yielding investment opportunities, have fuelled the rising interest in SPACs. According to resource website SpacInsider, which tracks these investment vehicles, 248 SPAC IPOs were completed in the last year alone, raising US$83 billion, compared with 216 from 2009 to 2019. This article discusses the features of SPACs, its benefits and risks, trends in Asia as well as the future for SPACs in Singapore.
