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CAM, S&R, Davis Polk on ICICI IPO

Cyril Amarchand Mangaldas (CAM) advised ICICI Prudential Life Insurance and ICICI Bank on Rs 60,568 million initial public offer. S&R Associates and Davis Polk & Wardwell advised the lead managers to the issue: DSP Merrill Lynch, ICICI Securities, CLSA India, Deutsche Equities India, Edelweiss Financial Services, HSBC Securities and Capital Markets (India), IIFL, JM Financial Institutional Securities, SBI Capital Markets and UBS Securities India.

CAM Mumbai banking partner Shashikant Bhojani and capital markets partner Gaurav Gupte acted for ICICI

S&R partners Sandip Bhagat and Jabarati Chandra and Davis Polk corporate counsels Gerhard Radtke and Faisal Baloch and associate Varun Natteri Mangadu acted for the lead managers.

“This is the first initial public offering of an insurance company in India, making the Company the first listed insurance company in India. The norms for public offers of life insurance companies were liberalized in December 2015, including being the largest IPO in the financial services sector in India. Further, this is largest IPO in India since the IPO of Coal India Limited in 2010, 5th largest IPO and the 3rd largest private sector IPO in India and also the largest life insurance IPO in Asia (ex-Japan) since 2012,” according to CAM’s press release.

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