Shardul Amarchand Mangaldas & Co and Latham & Watkins have advised Indian payments firm Paytm on its 183-billion-rupee ($2.4 billion) initial public offering, with Khaitan & Co and Shearman & Sterling advising the underwriters.

This is India’s largest-ever IPO till date, beating out the 152-billion-rupee offering of Coal India back in 2010.

Other firms advising various investors and shareholders include Algo Legal, Cyril Amarchand Mangaldas, IndusLaw, J Sagar Associates and Trilegal.

Paytm, formally known as One97 Communications, is backed by big investors like Ant Group and SoftBank's Vision Fund, and its anchor investors included big names like BlackRock and Canada Pension Plan Investment Board, Reuters reported. It added that the success of the IPO is seen as a precursor for more big-ticket public floats to come in the next year.

The Latham team was led by Singapore partner Rajiv Gupta, who was supported by partners Eric Cho, Sam Weiner, Min Yee Ng and Nabil Sabki.

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