Amarchand and J Sagar on Indian rights issue

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20 May 2008

Amarchand & Mangaldas & Suresh A Shroff & Co and J Sagar Associates have advised on a $4.38 billion rights issue for the State Bank of India (SBI) – the second-largest Indian equity offering to date.

Amarchand Mangaldas, working alongside Allen & Overy's Hong Kong office, advised SBI on the offering, which included a $2.5 billion subscription by the Indian government.

J Sagar Associates, along with Clifford Chance Hong Kong, advised the managers on the fully-subscribed issue.