Large law firms SAM, Latham, Khaitan, and Shearman take on advisory roles for India's biggest Initial Public Offering (IPO)
Paytm's Historic IPO: Latham & Watkins Lead the Way
Paytm, India's leading digital payments platform, has made history with its 183-billion-rupee Initial Public Offering (IPO), surpassing the 152-billion-rupee offering of Coal India in 2010 to become India's largest-ever IPO.
At the helm of Paytm's IPO was Rajiv Gupta, a partner at Latham & Watkins. Gupta, supported by Eric Cho, Sam Weiner, Min Yee Ng, and Nabil Sabki, led the Latham & Watkins team in this groundbreaking deal.
The underwriters for Paytm's IPO were advised by Khaitan & Co and Shearman & Sterling, while various investors and shareholders were advised by a consortium of law firms including Algo Legal, Cyril Amarchand Mangaldas, IndusLaw, J Sagar Associates, and Trilegal.
Kotak Mahindra Capital Co., Jefferies Financial Group Inc., Motilal Oswal Investment Advisors, and Nomura Holdings Inc. acted as book-running lead managers for the deal.
The success of Paytm's IPO is being seen as a precursor for more big-ticket public floats in the next year. Paytm, formerly known as One97 Communications, is backed by prominent investors such as Ant Group and SoftBank's Vision Fund. The anchor investors for the IPO include BlackRock and Canada Pension Plan Investment Board.
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- Rajiv Gupta from Latham & Watkins, along with his team consisting of Eric Cho, Sam Weiner, Min Yee Ng, and Nabil Sabki, played a vital role in the historic investing venture of Paytm's Initial Public Offering (IPO), employing their expertise in law and finance.
- In the realm of business, Paytm's successful IPO represents a significant step forward, potentially paving the way for further large-scale investments and public floats in the future.
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