Kirkland & Ellis LLP advised affiliates of Bain Capital Private Equity on their proposed investment of over a $1 billion (68.54 billion Indian rupees) in Axis Bank, the third largest private sector bank in India. Axis Bank is raising over $1.8 billion (116.26 billion Indian rupees) in total from investors and received approval for the capital raise from its Board of Directors on November 10, 2017. Once completed, this will be one of the largest ever private equity investments in the Indian banking sector. The full press release is available here.
The Kirkland team advising Bain Capital Private Equity was led by partners Srinivas Kaushik, David Irvine, Pierre-Luc Arsenault, Jeffery Richards, Daniel Abercromby and Derek Poon.