Harekrishna J. Ashar

Harekrishna’s recent experience includes the following:

Equity Capital Markets

• Vodafone Idea Limited
  • Follow-on Public Offering of equity shares underwritten by Axis Capital, Jefferies, and SBI Capital. This marks India’s largest ever follow-on public offering of equity shares. 
• Medi Assist Healthcare Services Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital, IIFL Securities, Nuvama, and SBI Capital.

• Muthoot Microfin Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by ICICI Securities, Axis Capital, JM Financial, and SBI Capital.
• India Shelter Finance Corporation Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by ICICI Securities, Citigroup, Kotak Mahindra, and Ambit.

• Honasa Consumer Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Kotak Mahindra, Citigroup, JM Financial, and J.P. Morgan. Named “Deal of the Year” 2023 by India Business Law Journal.
• Aditya Birla Capital Limited
  • Qualified Institutions Placement of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by BofA Securities, Jefferies, Axis Capital, ICICI Securities, and JM Financial. Named “Deal of the Year” 2023 by India Business Law Journal.
• PNB Housing Finance Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital, BNP Paribas, BofA Securities, and J.P. Morgan. Awarded “Best Equity Deal: South Asia” at the FinanceAsia Achievement Awards 2023.

• Five Star Business Finance Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by ICICI Securities, Edelweiss, Kotak Mahindra, and Nomura.
• Vedant Fashions Limited (Manyavar) 
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital, Edelweiss, ICICI Securities, IIFL Securities, and Kotak Mahindra.
• Paradeep Phosphates Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital.

• MedPlus Health Services Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital, Credit Suisse, Edelweiss and Nomura.

• Shriram Properties Limited
  • Initial Public Offering of equity shares pursuant to Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital, ICICI Securities and Nomura.
• The Indian Hotels Company Limited
  • Qualified Institutions Placement of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by ICICI Securities and Credit Suisse.
• Chemplast Sanmar Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by ICICI Securities, Axis Capital, Credit Suisse. IIFL Securities, AMBIT, BOB Capital, HDFC Bank, IndusInd Bank and Yes Securities.
• FSN E-Commerce Ventures Limited
  •  Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Kotak Mahindra, Morgan Stanley, BofA Securities, Citigroup, ICICI Securities, and JM Financial.
• Aptus Value Housing Finance India Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by ICICI Securities, Citigroup, Edelweiss, and Kotak Mahindra.
• CarTrade Tech Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Axis Capital, Citigroup, Kotak Mahindra, and Nomura.
• Glenmark Life Sciences Limited
  • Initial Public Offering of equity shares pursuant to Section 4(a) and Regulation S of the U.S. Securities Act, 1933, and underwritten by Kotak Mahindra, BofA Securities, Goldman Sachs, DAM Capital Advisors, BOB Capital Markets, and SBI Capital.

Debt Capital Markets — Issuer Side

• A Luxembourg-based producer of glass and metal products in connection with a number of its senior secured notes and senior notes offerings.* 
• A business travel management company on the restructuring of its existing indebtedness, including an exchange offer, an issuance of rights-offering units consisting of new notes and shares of common equity of a newly created holding company, and an equity contribution. Harekrishna also advised in connection with its consent solicitation and private placement of US$135 million senior secured notes.*
• A British listed multinational mining company in connection with its offering of US$1.5 billion senior notes.*
• A Middle Eastern communication and automation services in connection with its offering of NIS 300 million debentures.*

Debt Capital Markets — Sponsor Side

• The joint bookrunners and joint lead managers in connection with  a major UK retail and commercial bank’s notes offerings.*
• The underwriters in connection with a Luxembourg-incorporated multinational steel manufacturing corporation’s US$750 million notes offering.*

*Some of the above matters were handled by Harekrishna prior to joining Sidley.