Cases & Deals

Kotak Mahindra and UBS Securities India Private Limited complete first ever placement via Institutional Placement Programme

Clients Kotak Mahindra Capital Co. Ltd. and UBS Securities India Private Limited (Mumbai)

Jones Day advised Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited in connection with the US$95 million private placement of Equity Shares of the Indian real estate company Godrej Properties Limited (GPL).

GPL is the first company to complete a placement through the recently enacted Institutional Placement Programme (“IPP”). IPPs have been introduced to enable publicly listed companies to comply with the minimum public shareholding requirements of the securities laws of India. The IPP allows promoters to sell up to 10% of the company’s equity shares to institutional investors.

GPL is a leading real estate development company in India and is a part of the Godrej group of companies. The company focuses on residential, commercial, and township developments. It has projects in Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mangalore, Mumbai, Pune, and Gurgaon.