Khaitan & Co acted as the domestic legal counsel to the Book Running Lead Managers – Citi Global Markets India Private Limited, Axis Capital Limited, Deutsche Equities India Private Limited, HSBC Securities and Capital Markets (India) Private Limited and Kotak Mahindra Capital Company Limited in relation to General Insurance Corporation of India (“GIC Re”) Initial Public offering for $1.6bn approximately. GIC Re offers reinsurance solutions to general insurance and life insurance companies in 162 countries. It is India’s only reinsurance company and the first public sector insurance company to file a DRHP for an initial public offering. Abhimanyu Bhattacharya (partner), Madhur Kohli (Associate Partner), Soumya Mohapatra (Principal Associate), Barkha Doshi (associate), Pranav Agarwal (associate) with assistance from Rohan Singh (senior associate) led the transaction. GIC Re is India’s only reinsurance company and the first government-owned non-life insurance company in India to file for an initial public offering. One of the largest proposed IPOs of this financial year.
Browne Jacobson has won the mandate to be Croydon Council’s sole legal provider for at least the next five years winning a contract worth £17.5m.