IFLR1000

HDFC Bank $1.6 billion ADS offering and QIP issue

11/2/2015
Private placement of shares, Share offer, Private placement of bonds/notes, Qualified institutional placement (QIP)
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$ 1.6 billion

Completed

11/2/2015

Overview:

  • HDFC Bank has raised $1.6 million through an issue of $1.27 billion in American depository shares (ADS) and a $324 million qualified institutional placement (QIP).
  • The offering was four times oversubscribed and was the bank's first concurrent ADS/QIP issue in more than six years.
  • Merrill Lynch Pierce Fenner & Smith, Credit Suisse Securities, JPMorgan Securities, Morgan Stanley & Co International, Barclays Investment Bank, Goldman Sachs, Nomura Securities International and UBS Securities acted as bookrunners.

Sam Duke - Editor

Jurisdictions:

United States
India

Deal types:

Private placement of shares
Share offer
Private placement of bonds/notes
Qualified institutional placement (QIP)

Practice areas:

Capital markets : Debt
Capital markets : Equity

Industry sector:

Banking

Firms:
AZB & Partners

Party: JPMorgan Securities (Bookrunner, Underwriter)

Party: Morgan Stanley (Bookrunner, Underwriter)

Party: Barclays (Bookrunner, Underwriter)

Party: Goldman Sachs (Bookrunner, Underwriter)

Party: Credit Suisse Securities (Bookrunner, Underwriter)

Party: Nomura Securities (Bookrunner, Underwriter)

Party: Merrill Lynch Pierce Fenner & Smith (Bookrunner, Underwriter)

Lawyers: Lionel D'Almeida, Varoon Chandra

Cravath Swaine & Moore

Party: HDFC Bank (Issuer)

Lawyer: Philip Boeckman

Cyril Amarchand Mangaldas

Party: HDFC Bank (Issuer)

Lawyer: Gaurav Gupte

Davis Polk & Wardwell

Party: JPMorgan Securities (Bookrunner, Underwriter)

Party: Barclays (Bookrunner, Underwriter)

Party: Goldman Sachs (Bookrunner, Underwriter)

Party: Credit Suisse Securities (Bookrunner, Underwriter)

Party: Nomura Securities (Bookrunner, Underwriter)

Party: Merrill Lynch Pierce Fenner & Smith (Bookrunner, Underwriter)

Party: Morgan Stanley (Bookrunner, Underwriter)

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