Dhanush Dinesh

Dhanush’s representative experience* includes:

• Kotak Mahindra, ICICI Securities, Jefferies India, JPMorgan India, Morgan Stanley India, and Intensive Fiscal Services as underwriters, in connection with the US$945 million initial public offering of equity shares by Vishal Mega Mart Limited.
• Brookfield India Real Estate Trust in its US$415 million qualified institutions placement of equity shares, underwritten by Kotak Mahindra Capital, Avendus Capital and Elara Capital (India). This is the only QIP by an Indian REIT in 2024, and it marks the first REIT investment in India from the World Bank member International Finance Corporation and the Life Insurance Corporation of India. 
• IIFL Securities and CLSA as underwriters in connection with the US$35 million initial public offering of equity shares by Unicommerce eSolutions Limited.
• ICICI Securities, Axis Capital, Citigroup and Ambit, the lead managers, in the US$220 million initial public offering of equity shares by Akums Drugs and Pharmaceuticals Limited.
• IRB Infrastructure Trust and IRB Infrastructure Developers
  • US$345 million fast-track rights issue of units, the proceeds of which were used for investment in a toll-road project in the Indian state of Telangana. This was the first such offering by a privately placed and listed InvIT in India.
  • US$270 million fast-track rights issue of units, the proceeds of which were used for investment in toll-road projects in the Indian states of Uttar Pradesh, Rajasthan, and Madhya Pradesh.
  • US$800 million acquisition of units of the InvIT and shares of the investment manager of the InvIT by Cintra (a subsidiary of the Ferrovial group) from affiliates of GIC Singapore. 
  • Listing of the units of the InvIT on the National Stock Exchange of India. This was the second such listing of units of a previously unlisted InvIT on the stock exchanges in India.
  • US$255 million equity and debt investment by IRB Infrastructure Developers and an affiliate of GIC Singapore in a toll-road project in the Indian state of Uttar Pradesh.
• Citigroup and J.P. Morgan, the placement agents, in the US$630 million initial offering of ordinary units of the Cube Highways Trust. Named “Deal of the Year” 2023 by India Business Law Journal.
• Axis Capital, Ambit, HSBC and SBI Capital, the placement agents, in a US$80 million institutional placement of units by India Grid Trust. This was the first such offering by a publicly offered and listed InvIT in India.
• Gandhar Oil Refinery (India) in its US$60 million initial public offering of equity shares, underwritten by Nuvama and ICICI Securities.
• IRB InvIT Fund in its US$40 million acquisition of a toll-road project in the Indian states of Gujarat and Maharashtra.
• Kotak Mahindra, BofA Securities, Goldman Sachs, DAM Capital, BOB Capital, and SBI Capital, the lead managers, in the US$180 million initial public offering of equity shares by Glenmark Life Sciences.
• Data Infrastructure Trust (co-sponsored by the Brookfield Corporation and Reliance group) on InvIT-related matters in its US$2 billion acquisition of American Tower Corporation’s operations in India.

*Includes matters handled prior to joining Sidley.