Deal Corner January 01, 2009
Orbit Corporation Limited raised an approximate amount of INR 1,450 million
Orbit Corporation Limited ("Orbit") raised an approximate amount of INR 1,450 million (approximately US$ 30 million) by way of issuance of equity shares to certain qualified institutional buyers through the qualified institutions placement route ("QIP Issue"). Orbit is a listed company primarily involved in the development of real estate projects in the Mumbai Metropolitan Region. Kotak Mahindra Capital Company Limited, Macquarie Capital Advisers (India) Private Limited and Edelweiss Capital Limited acted as the global coordinators and book running lead managers to the QIP Issue.
We, at Nishith Desai Associates, acted as the domestic legal counsel to the QIP Issue.