NAME: Bhakta Patnaik
LAW FIRM: Trilegal
PRACTICE AREA: Capital markets
Partner Bhakta Patnaik of Trilegal wins our April lawyer of the month award for his role in Bank of Baroda’s $622 million qualified institutional placement (QIP). This is India’s largest QIP by deal value in 2021 so far. Patnaik and his team acted as legal advisors to the bookrunning lead managers as to Indian law throughout the deal.
According to Business Standard, the bank has launched the QIP issue on 25 February 2021. The floor price of the qualified institutional placement is fixed at Rs85.98 per share. The bookrunning lead Managers for the QIP include ICICI Securities, Axis Capital, BNP Paribas, BOB Capital Markets, HSBC Securities and Capital Markets (India), JM Financial and SBI Capital Markets.
Based in Mumbai, Patnaik heads the firm’s capital market practice. He has extensive experience in equity capital markets and has advised borrowers and lenders in structured finance transactions and debt issuances.