Amarchand & Mangaldas & Suresh A. Shroff & Co. Acted as the sole legal advisor to NTPC on all aspects of the deal, including the M&A and corporate aspects, court process and listing formalities. This is the first bonus debenture issue by a government company and is the largest issue in terms of deal size for any bonus debenture issue so far in India. NTPC being a government company, the Scheme of Arrangement has been approved by the Ministry of Corporate Affairs (MCA) on March 02, 2015.

Issue of secured, non-cumulative, non-convertible, redeemable, taxable, fully paid-up bonus debentures having face value of Rs. 12.5 each out of free reserves of the company to its shareholders through a Scheme of Arrangement in terms of section 391 to 394 of Companies Act, 1956 based on a debenture entitlement ratio of 1:1. As stated above, this is the first bonus debenture issue by a government company and is the largest issue in India in terms of deal size for any bonus debenture issue. As per public information, various governmental companies are contemplating issuing bonus debentures and this deal may act as a catalyst for the same.

AMSS team involved Kalpataru Tripathy, Partner, Promode Murugavelu, Principal Associate, Medha Kumar, Associate and Ishita Bhardwaj, Associate from M&A and Corporate Team. Anirudh Das, Partner, Manu Krishnan, Principal Associate and Kamaljeet Singh, Associate from Litigation (Court Process) Team. Prashant Gupta, Partner, Monal Mukherjee, Principal Associate and Serena Upadhyay, Associate from Capital Markets (Listing Process) Team. Total deal value is 10,306 crore.