mining_thumbLuthra & Luthra and S&R Associates acted as Indian counsel in Indian mining company Sterlite Industries' $1.5bn (Rs 7,200 crore) equity fundraising, with Latham & Watkins and Shearman & Sterling handling the international advice.

S&R Associates partner Sandip Bhagat led the Indian legal team for Sterlite as Latham & Watkins represented the company and its London-listed parent Vedanta Resources internationally.

Bhagat was assisted by associates Gokul Rajan and Satyajit Sarna.

Luthra & Luthra capital markets partner Madhurima Mukherjee represented the underwriters Morgan Stanley and JP Morgan in India, with Shearman leading the international legal team.

Mukherjee was assisted by a team including senior associate Jitesh Shahani and associates Anjali Verghese and Vishal Yaduvanshi.

Shearman's team was led by Hong Kong capital markets partner Matthew Bersani, working with Singapore counsel Gail Ong. Associates Su-Ann Cheah and assistant Derek Perriam in Singapore, and associates Hosea Chang and Sara Chin in Hong Kong also worked on the transaction.

Latham & Watkins' team was by Singapore partners Michael Sturrock and Rajiv Gupta.

Vedanta raised the cash through American Depository Receipts (ADR) issued on the London Stock Exchange.

It is the first ADR issue by an Indian company in two years and will be used to finance capital expenditure and power generation programmes.

Mukherjee had in June also advised Vedanta subsidiary Sesa Goa for Luthra on its 1,750 crore ($368m) acquisition of Dempo Group.

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