Khaitan & Co advised Morgan Stanley in managing Standard & Poor’s-owner McGraw Hill Financial’s $335m (Rs 1,957 crore) open offer for 22.23 per cent of shares in India-headquartered credit rating agency Crisil. McGraw Hill was advised by Singhania & Partners.

Khaitan & Co partner Arindam Ghosh and executive director Sudhir Bassi acted for Morgan Stanley.

Singhania & Partners partner Manish Kumar Sharma acted for McGraw Hill.

With this offer McGraw Hill raised its holding in Crisil from 52.8 per cent to 75 per cent, valuing Crisil at around Rs 8,600 crore, according to the Business Standard.