Skip to main content

Latham & Watkins and Shardul Amarchand Mangaldas have advised Indian credit card issuer SBI Cards on its 10,341-crore-rupee ($1.4 billion) IPO, with Cyril Amarchand Mangaldas and Allen & Overy representing the lead managers.

This is India’s first billion-dollar IPO since 2017. SBI Cards is the credit card wing of the country's largest commercial bank, State Bank of India (SBI), and the second largest credit card issuer in the country.

According to Reuters, SBI, which owns 74 percent in the company, will divest 4 percent, while Carlyle Group’s affiliate CA Rover Holdings, which holds the rest, is set to sell a 10 percent stake as part of the IPO process.

The CAM team was led by partners Yash J. Ashar, Gokul Rajan, Anuj Pethia and Devaki Mankad.

Meanwhile the SAM team was led by partners Prashant Gupta and Sayantan Dutta.

The Allen & Overy team was led by partners Pallavi Gopinath Aney and Mark Leemen.

Herbert Smith Freehills represented CA Rover Holdings.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.

Related Articles

Deals

Khaitan, SAM, Sidley advise on Torrent Power’s $413 mln QIP

by Nimitt Dixit |

Indian law firm Khaitan & Co has advised Torrent Power on its equity offering of $413 million through a qualified institutional placement of shares. Shardul Amarchand Mangaldas & Co and Sidley Austin advised the bookrunning lead managers on the deal.

Deals

IndusLaw guides Zepto’s $350 mln funding round

by Nimitt Dixit |

IndusLaw has guided Indian quick commerce company Zepto on its latest $350 million funding round led by Motilal Oswal's Private Wealth division.

Deals

9 firms advise on milestone $8.2 bln cross-border insurance deal

by Sarah Wong |

Global law firms Debevoise & Plimpton, Kirkland & Ellis and Herbert Smith Freehills are acting for Bermuda-based insurer Resolution Life on its $8.2 billion sale to Japan’s Nippon Life Insurance, the largest overseas acquisition by a Japanese insurer to date.