Latham & Watkins and Shardul Amarchand Mangaldas have advised Indian credit card issuer SBI Cards on its 10,341-crore-rupee ($1.4 billion) IPO, with Cyril Amarchand Mangaldas and Allen & Overy representing the lead managers.

This is India’s first billion-dollar IPO since 2017. SBI Cards is the credit card wing of the country's largest commercial bank, State Bank of India (SBI), and the second largest credit card issuer in the country.

According to Reuters, SBI, which owns 74 percent in the company, will divest 4 percent, while Carlyle Group’s affiliate CA Rover Holdings, which holds the rest, is set to sell a 10 percent stake as part of the IPO process.

The CAM team was led by partners Yash J. Ashar, Gokul Rajan, Anuj Pethia and Devaki Mankad.

Meanwhile the SAM team was led by partners Prashant Gupta and Sayantan Dutta.

The Allen & Overy team was led by partners Pallavi Gopinath Aney and Mark Leemen.

Herbert Smith Freehills represented CA Rover Holdings.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.

Related Articles

Deals

CC, Paul Hastings lead on CR Beverages’ HK IPO

by Charlie Wu 吴卓言 |

Clifford Chance and Jingtian & Gongcheng are advising China Resources Beverages, the beverage division of the state-owned China Resources Enterprise, on its upcoming Hong Kong IPO, which is expected to raise up to $1 billion. Paul Hastings and Zhong Lun Law Firm are acting for the joint sponsors.

Deals

CC, Davis Polk act on ChaPanda’s $330 mln Hong Kong IPO

by Charlie Wu 吴卓言 |

Davis Polk & Wardwell and Jingtian & Gongcheng have advised Sichuan Baicha Baidao, a Chinese low-priced tea chain also known as ChaPanda, on its $330 million IPO on the Hong Kong Stock Exchange, with Clifford Chance and King & Wood Mallesons acting for the sponsor CICC and underwriters.

Deals

Skadden, AMT, MHM, Davis Polk advise on Trial Holding’s $258 mln Japan IPO

by Nimitt Dixit |

Skadden, Arps, Slate, Meagher & Flom and Anderson Mori & Tomotsune have advised Japanese discount-store chain operator Trial Holdings on its $258 million initial public offering on the Tokyo Stock Exchange (TSE), the largest IPO of the year so far.