Amarchand, Cleary act on indian float

Indian firm Amarchand & Mangaldas & Suresh A Shroff & Co and Wall St firm Cleary Gottlieb Steen & Hamilton advised on the $2.93bn (£1.49bn) IPO of Reliance Power – the largest Indian flotation to date.


Indian firm Amarchand & Mangaldas & Suresh A Shroff & Co and Wall St firm Cleary Gottlieb Steen & Hamilton advised on the $2.93bn (£1.49bn) IPO of Reliance Power – the largest Indian flotation to date.

Reliance Power, an affiliate of the Reliance ADA Group, is one of the largest business houses in India and comprises companies in the telecommunications, financial services, media and entertainment, infrastructure, energy and other sectors.

Reliance Power floated 260,000,000 equity shares on the Bombay Stock Exchange and the National Stock Exchange of India.

An Amarchand team led by partner Rahul Gupta represented Reliance Power, while a Cleary team led by Hong Kong leveraged finance partner David Hirsch represented the underwriters.

Lead underwriters were the Kotak Mahindra Capital Company and UBS Securities India.