Four law firms have bagged what could be the last big initial public offering (IPO) in a long while, considering the damage the COVID-19 pandemic is wreaking across global financial markets, picking up roles on the short-lived blockbuster SBI Cards and Payments Services subsidiary of State Bank of India.
MUMBAI : SBI Cards and Payments Services Ltd made a weak stock market debut on Monday as uncertainties over the Covid-19 pandemic caused a sharp sell-off in domestic equity markets.
— Mint
Shardul Amarchand Mangaldas & Co advised SBI Cards and Payment Services Limited and its parent, the State Bank of India led by a team of national practice head and partner Prashant Gupta, partner Sayantan Dutta, principal associate Abhinav Maker, senior associate Reema Dash, associate Sanjana Chowdhry, associate Sanjeev Chowdhary, associate Jayant Bhardwaj. The SBI related matters were led by partner Nikhil Naredi and associate Harsh Loonker.
Latham & Watkins LLP was international legal counsel to SBI Cards and Payment Services Limited.
Cyril Amarchand Mangaldas advised the Book Running Lead Managers (Kotak Mahindra Capital Company Limited; Axis Capital Limited; DSP Merrill Lynch; HSBC Securities and Capital Markets (India); Nomura Financial Advisory and Securities (India) Private Limited; and SBI Capital Markets Limited. Its transaction team included partner Yash J Ashar, partner Gokul Rajan; partner Anuj Pethia; partner Devaki Mankad; with support from associate Meesha Varshney; associate Ajo Jomy; associate Siddharth Bagul; associate Ashlesha Mittal.
Allen & Overy Asia was international legal counsel to the managers.
Deal value: $1.39bn
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