Squire Patton Boggs and Allen & Overy have played the lead roles on the State Bank of India’s $2.3 billion share sale—the largest qualified institutional placement ever in India.
India’s largest lender by assets sold the shares through the so-called qualified institutional placement, a program for companies to raise capital by selling equity to a group of targeted institutional buyers. The deal helped strengthen the bank’s capital reserve, chair Arundhati Bhattacharya told Reuters after the sale.
