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Deutsche Equities India, Edelweiss, ICICI Securities, and SBICAP Securities complete US$250 million Offer for Sale of Bharat Electronics Limited shares by Government of India

February 2017

Client(s) Deutsche Equities India Private Limited, Edelweiss Securities Limited, ICICI Securities Limited, and SBICAP Securities Limited

Jones Day advised Deutsche Equities India Private Limited, Edelweiss Securities Limited, ICICI Securities Limited, and SBICAP Securities Limited in connection with the Government of India's US$250 million (INR 16.7 billion) Offer for Sale (OFS) of Equity Shares of Bharat Electronics Limited, an Indian state-owned aerospace and defense company. The transaction represented a divestment of 5% of the Government of India's equity stake in Bharat Electronics Limited and was over-subscribed by 260%.

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