Khaitan & Co has advised Samvardhana Motherson, one of the world’s largest suppliers of automotive components, on its recent $771 million fundraise through a qualified institutional placement (QIP)

Cyril Amarchand Mangaldas and Linklaters advised the book-running lead managers to the QIP, namely HSBC Securities and Capital Markets (India), Axis Capital, Jefferies India, JM Financial, and Morgan Stanley India.

The proceeds from the placement will be utilised to enhance the company's capital structure and growth strategies. 

The QIP a public fundraising option typical in a bullish market, has seen an uptick in India in 2024. So far this year, 58 listed companies have raised around $7.7 billion (649 billion rupees) through QIPs -- the highest since 2020.

Real estate companies like Prestige and Brigade, as well as energy companies including Adani Energy and Vedanta, have raised large sums through QIPs this year.

The Khaitan team on the Samvardhana Motherson deal was led by partners Abhimanyu Bhattacharya and Thomas George, and included Prathiksha Panduranga, Jash Botadra, Varun Nair and Lakshmi Raj.

The Linklaters team was led by partner and head of India practice Amit Singh, with support from counsel Joseph Wolpin and managing associate Daryl Bryan Chee.