Talwar Thakore & Associates (TTA) are advising Anil Ambani’s debt-ridden Reliance Communications (R-Com) in raising up to Rs 6,100 crore ($1bn) by selling shares through Qualified Institutional Placement (QIP) and the sale of warrants.
S&R Associates and Jones Day advised the lead managers to the issue.
TTA capital markets partner Rahul Gulati is understood to have acted for India’s fourth largest mobile phone operator.
S&R Associates partners Sandip Bhagat and Bhakta Patnaik and Jones Day Singapore capital markets partner Manoj Bhargava are understood to be acting for the banks – CLSA India, JP Morgan India, Axis Capital, Edelweiss Financial Services and Macquarie Capital (India).
In 2009 Amarchand Mangaldas had acted for R-Com subsidiary Reliance Infratel on its initial public offer.
R-Com, according to Mint, had targeted to raise Rs 3,000 crore through the QIP and the rest through sale of share warrants. R-Com is now expected to retain Rs 4,800 crore from the share sale after receiving bids worth over Rs 1,200 crore to date, and an additional Rs 1,300 crore from warrants, reported the Economic Times.
Comments
These partners were obviously not working solo, nor do law firms necessarily over staff on deals where we report 6 partners and 5 associates.
Due to the time lines involved in deal reporting, we can't always confirm every associate working on a deal, and some firms in any case won't share the info, while some perhaps over share by putting in press releases every department that has ever sat on a call on a deal.
Since this story was not based on a press release, we were content with reporting only partners' names and not the full teams. Nowhere does it suggest that those were the only people working on the deal...
That's their prerogative. If it rankles you that you or someone you know isn't named in a deal report, why don't you talk with the PR team or the partner on a deal, or let us know directly who else worked on a deal and we'll update the story.
ROFL
Neither of these firms (TTA and S&R) are known for issuing press releases. Both are known for being supportive of their associates and happy for them to get exposure and credit.
Would be very surprised if the higher powers would be annoyed if asked to confirm the associates who worked on the deal, or if they were to write to Kian directly.