The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Lovells has scored its first Indian real estate AIM flotation off the back of a referral from Deutsche Bank.
K Raheja Group floated the holding company Ishaan Real Estate on 21 November, raising £180m on AIM to fund real estate projects in India, one of several Indian property companies to list on AIM recently.
A Lovells team, led by corporate partner Richard Brown and senior associate Chris Horton, won the Ishaan mandate thanks to Horton's relationship with a former JPMorgan colleague now at Deutsche Bank, Ishaan's nomad. Deutsche Bank and JPMorgan Cazenove were the joint coordinators and bookrunners on the £180m flotation and were advised by a Clifford Chance team headed by finance partner Michael Dakin.
Lovells worked with two Mumbai firms to take Ishaan to market. Wadia Ghandy represented the K Raheja Group, one of India's biggest developers, while Desai & Diwanji advised Ishaan. Lovells has worked with Wadia in the past, but has no formal relationship with it, nor any other Indian firm.
Lovells hopes to continue its role as corporate adviser. Ishaan, which means 'sun' in Hindi, is a listed fund with a portfolio of eight property assets. It announced that its new chairman would be former Land Securities chief executive Ian Henderson.
Of the proceeds, 70 per cent will be used to buy a 40 per cent stake in each of the eight real estate projects in Hyderabad, Mumbai, Bangalore and Pune. The acquisitions are conditional, but are expected to close in the next few months.