BusinessWire India

Mumbai (Maharashtra) [India], November 25: Cyril Amarchand Mangaldas acted as legal counsel to the Titan Company Limited (Titan), in relation to issuance of listed, unsecured, rated, redeemable, non-cumulative, non-convertible debentures (NCDs), aggregating to Rs 2500 crore.

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The Banking, Corporate & Structured Finance team of Cyril Amarchand Mangaldas advised on the matter. The transaction team was led by Lakshmi Prakash, Partner; with support from Kushal Rohira, Principal Associate Designate; and Himanshi Mahajan, Associate.

Bharath Reddy, Partner; provided strategic inputs on corporate related aspect of the transaction.

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As a part of the transaction, 2,50,000 listed, unsecured, rated, redeemable, non-cumulative, non-convertible debentures were issued, aggregating to Rs 2500 crores only, in 2 (two) tranches, each including issuance of 1,25,000 rated, unsecured, listed, redeemable non-convertible debentures of the face value of Rs 1 lakh each, aggregating up to Rs 1,250 crores. Other parties and advisors to the transaction included Kotak Mahindra Bank Limited and Axis Bank Limited (acted as arranger for Titan); Axis Trustee Services Limited (acted as debenture trustee for Titan); BSR & Co LLP (acted as auditor for Titan); and TSR Consultants Private Limited (acted as registrar for Titan). The issue concluded in the first week of November 2023.

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