Kotak Mahindra Bank, a top private-sector financial institution, has launched a Re74.4 billion ($985 million) qualified institutional placement offering of equity shares. This is the first QIP since the COVID-19 lockdown, the last issuance being in February by Avenue Supermarkets.

S&R Associates represented lead managers Goldman Sachs (India) Securities Private, Kotak Mahindra Capital Company, Morgan Stanley India Company Private and SBI Capital Markets. The team was led by Sandip Bhagat and Jabarati Chandra. Clifford Chance served as the managers’ international counsel.

Kotak Mahindra was advised by both AZB & Partners and Cyril Amarchand Mangaldas.