AZB & Partners and Cyril Amarchand Mangaldas have advised Mumbai-headquartered life insurance provider HDFC Standard Life Insurance on its $1.33 billion IPO debut on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).
Meanwhile, India’s S&R Associates and Latham & Watkins have counseled Morgan Stanley, HDFC Bank, Credit Suisse, Citic CLSA, Nomura, Edelweiss, Haitong Securities, IDFC Bank, IIFL Holdings and UBS as bookrunners on the IPO.
HDFC Standard Life, a joint venture between Housing Development Finance Corporation (HDFC) and UK-based investment company Standard Life Aberdeen, is the third life insurance company to be listed on the exchanges, after ICICI Prudential Life and SBI Life, and the fourth billion dollar-plus IPO in India this year. India has seen a record year for IPOs with more than $11 billion of initial share sales, reported Reuters.
The Latham team was led by Singapore partner and India practice head Rajiv Gupta, who was assisted by New York partners Jiyeon Lee-Lim and Gregory Hannibal, and by Chicago partner Nabil Sabki.
