Khaitan & Co scored the Mahindra Holidays & Resorts listing in Mumbai, which netted the Mahindra Group around Rs. 275 crore over the past month and to many investors signalled a temporary end to the initial public offering (IPO) drought.

The Mahindra Group is one of Khaitan & Co’s top relationship clients and capital markets partner Nikhilesh Panchal led Khaitan’s legal team for the company.

The syndicate banks, Kotak Securities and SBICAP Securities, were advised by Amarchand Mangaldas in Bangalore, with partner Arjun Lall leading the team.

Jones Day advised the banks on international legal elements of the listing, with Hong Kong partner Jeffrey Maddox and Singapore of counsel Manoj Bhargava advising.

The same three firms and teams were also involved on the Adani Power IPO, which is currently on its investors’ road show and reportedly facing high interest.