Cases & Deals

J.P. Morgan India, Citigroup Global Markets, and JM Financial complete $905 million block trade by Specified Undertaking of Unit Trust of India

Clients J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, and JM Financial Institutional Securities Private Limited

Jones Day advised J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, and JM Financial Institutional Securities Private Limited in the US$905 million (Rs.5,500 crore) block trade by the Specified Undertaking of the Unit Trust of India of Equity Shares of Axis Bank Limited. The block trade was the largest block trade for an Indian company in 2014 and one of the largest block trades for an Indian company to date.

In December 2014, it was recognized as a "Deal of the Year" for India by the India Business Law Journal ("IBLJ"). The IBLJ Awards recognize what they believe are the landmark India-related deals and cases of 2014. Winning deals were chosen across a range of transactions and industries.

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