CAPITAL MARKET

Capital Markets and Securities' laws is another core practice area of MV Kini. MV Kini' s experience covers a wide range of securities and debt offerings in domestic and international markets including Initial Public Offerings ("IPOs").

MV Kini acts as legal advisor to various public sector and statutory bodies as well as commercial enterprises in relation to Capital Markets and Securities laws related activities.

The Firm' s services include a wide range of activities involving coordination with merchant bankers, intermediaries such as debenture trustees and other intermediaries, legal documentation and related procedures and drafting of offering-related agreements. MV Kini carries out due diligence, ensures compliances and disclosures to be made in offer documents in accordance with the rules and regulations of the Securities and Exchange Board of India ("SEBI") and the Reserve Bank of India ("RBI") and also represents clients before various statutory authorities.

MV Kini has been ranked No. 1 amongst the top solicitor firms by:

  • Prime Ranking for Public Debt Offers in India.
  • Prime Ranking for Public Issues of Equity in SME Sector.
  • India Equity IPO: Legal Advisor .

MV Kini has also been ranked as-

No. 6 (India Equity IPO: Legal Advisor - Deal Count)
No. 10 (Global Equity IPO: Legal Adviser - Volume).
No. 10 (Asia ex-Japan Equity IPO: Legal Advisor - Volume) in Bloomberg' s League Table for First Quarter of 2017 for Global Legal Advisor.
No. 14 Global Capital Markets Review Legal Advisors - League Table Asia Pacific (ex-Japan) Capital Markets Review (Asia Equity & Equity - related (BX1)).
Transactions on which MV Kini has advised, have won various awards, including the Deal of the Year for NHAI' s Public Debt Offer - India by Lawyers Monthly.


Key transactions

Advised NHAI on its maiden Public Debt Offer of Rs. 10,000 crores (US$1.85 billion).

A Advised a leading public sector undertaking on the Public Debt Offers of Rs. 3,000 crores (US$482.5 million) for 2011-12, of Rs. 2,700 crores (US$434.3 million) for 2012-13 and of Rs.3,500 crores (US$563 million) for 2013-14.

Advised the Port Trust organisation on its Public Debt Offer of Rs. 2,000 crores (US$321.7 million) for 2012-13.

Advised a leading power finance company on its Public Debt Offer of Rs. 5,000 crores (US$804.2 million) for 2013-14.

Acted as legal counsel for the Private Placement of capital gains 54EC bonds; Subordinated Tier II bonds and Institutional bonds issued as debentures by leading Government / public sector undertakings.

Advised a public sector enterprise on bonds valued at CHF200 million (US$211 million) issued on the Swiss Stock Exchange.

Advised a Bank on compliance with SEBI guidelines for its Private Placement of Innovative Perpetual Debt Issue (series I) of Rs. 244 crores (US$45 million).

Advised a private sector bank on forward trade agreements, currency agreements, and derivate agreements based on the International Swaps and Derivatives Association ("ISDA") Master Agreement for compliance with FEMA regulations and RBI guidelines.


KEY TRANSACTIONS

  • TAX FREE BONDS

    Appointed as sole legal counsel for tax-free bonds issue aggregating to more than Rs. 350000 million (US$ 4861.11 million) for several PSUs namely National Highways Authority of India, Indian Railway Finance Corporation, Power Finance Corporation Limited, Rural Electrification Corporation Limited and Jawaharlal Nehru Port Trust.

  • PRIVATE PLACEMENTS

    Appointed as legal counsel for private placement of bonds for various PSUs namely Rural Electrification Corporation Limited, Power Finance Corporation Limited, Indian Railways Finance Corporation Limited, National Highways Authority of India and Private entities.

    The recent prominent transaction being debt restructuring of Air India which involved a private placement component as well as novation of bonds aggregating to Rs. 294640 million (US$4092.22 million).

  • 54 EC BONDS

    • Appointed as legal counsel for the private placement of capital gains 54EC bonds for PSUs namely Rural Electrification Corporation, National Highways Authority of India Limited, Indian Railways Finance Corporation Limited and Power Finance Corporation Limited.

  • RIGHT ISSUES

    • Appointed as legal counsel for the rights issues of several companies aggregating to approximately Rs. 10000 million (US$ 138.89 million).

  • QUALIFIED INSTITUTIONAL PLACEMENT (QIP)

    • MV Kini has advised the Indian Overseas Bank on the QIP of its equity shares of an issue size of Rs. 2619.40 million.

  • MUNICIPAL BONDS

    Appointed as the sole legal counsel to several on India’s Municipal Corporations for their maiden municipal bonds issues such as the Ahmedabad, New Delhi, Greater Hyderabad, Ghaziabad, Greater Vishakhapatnam, Jabalpur and Surat.

  • SMALL MEDIUM ENTERPRISES (SMEs)

    • Appointed as sole legal counsel for Initial Public Offers of more than 100 SMEs and also advised them on regulatory compliance and various corporate governance issues in relation to securities laws.

  • INDIA’S FIRST DEBT ETF ISSUE

    • Appointed as the legal advisor to Department of Investment and Public Asset Management for creation and launch of India’s first Debt Exchange Traded Fund (Debt ETF) being launched in the year 2020.

OTHER MATTERS HANDLED

  • Advised on issuance of Commercial Paper.
  • Actively Foreign Investors interested in entering the Indian market.
  • Assisted a US-based hedge fund to operate as a Foreign Institutional Investor (FII) in India and its compliances.
  • Advised on various forward trade agreements, currency agreements, and other SWAPS and derivative agreements based on the ISDA master agreement.
  • Advised on delisting of equity of shares & compliances and procedures under the SEBI (Delisting of Equity Shares) Regulation, 2009.
  • Advised an NBFC for all its loan documentations, for loan against securities and other such products along with incidental RBI/ FEMA analysis.
  • Advised Indian Railways Finance Corporation Limited on the nature of securities falling within the ambit of Approved Securities’.
  • Advised certain shareholder groups on the distribution of assets of a fund, post winding up. In addition to the above, our Capital Markets and Securities law team also advises on regulatory compliance and various corporate governance issues in relation to securities laws in India.

RANKS & AWARDS

Our firm recently ranked No. 1 by deal count by Bloomberg India Equity offerings - Legal Advisor and Rank 14 by deal count in Global Equity IPO. Transactions on which we have advised, have won various Awards, including the Deal of the Year National Highways Authority of India’s Public Debt Offer by Lawyers Monthly.

Key People Vidisha Krishan , Ravi Kini