Shardul Amarchand Mangaldas & Co acted as the Legal Counsel to the brokers representing the President of India (Promoter), in relation to the ` 2,200 crore offer for sale (OFS), constituting 15% of the paidup equity share capital of NBCC (India) Limited.

The Capital Markets team of Shardul Amarchand Mangaldas was led by Prashant Gupta, Partner, National Practice Head – Capital Markets and Sayantan Dutta, Partner; and included Shraddha Krishnan Dash, Senior Associate, Devi Prasad Patel, Associate and Prashasti Janghel, Associate.

As a part of the transaction, the President of India, acting through the Ministry of Urban Development, Government of India sold up to 9,00,00,000 equity shares of face value of 2 each, through the Stock Exchange Mechanism. Axis Capital Limited, Citigroup Global Markets India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited acted as the Brokers to the Seller in this transaction.

The trade took place on October 20, 2016 (for non-Retail Investors) and October 21, 2016 (for Retail Investors and non-Retail Investors who chose to carry forward their un-allotted bids).

The parties involved in the transaction were the President of India, acting through the Ministry of Urban Development, Government of India as the Seller in the transaction; Axis Capital Limited, Citigroup Global Markets India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited acted as the Brokers to the Seller.