Shardul Amarchand Mangaldas & Co acted as Indian legal advisor to Videocon Industries Limited (the “Issuer”) in relation to its restructuring of US$194.40 million 6.75% foreign currency convertible bonds (“FCCBs ) due December 2015.

The Capital Markets Team of Shardul Amarchand Mangaldas was led by Prashant Gupta, Partner & National Practice Head- Capital Markets, and included Shilpa Mankar Ahluwalia, Partner, and Monal Mukherjee, Partner, Shubhangi Garg, Principal Associate, Mathew Thomas, Senior Associate, Mallika Chopra, Senior Associate, and Roochi Hatengdi, Associate.

This was a restructuring of US$ 194.40 million 6.75% existing FCCBs of the Issuer, which were issued in December 2010 and due December 2015. The transaction involved part cash settlement of an amount of US$ 97.20 million (plus applicable interests and costs), and part exchange into US$ 97.20 million 4.30% FCCBs due December 2020. The Exchange Bonds are secured by way of pledge of certain shares of Videocon Telecommunications Limited (a subsidiary of the Issuer) by certain Videocon Group entities, and personal guarantees by two of the promoters of the Issuer.

The existing FCCBs of the Issuer were, and the Exchange Bonds are, listed on the Singapore Stock Exchange (SGX-ST), while the underlying equity shares of the Issuer are listed on the Indian stock exchanges, namely, BSE Limited and National Stock Exchange of India Limited.