11 Asian Legal Business | October 2024 DEALS $822 mln Development of 600 MW Kholongchhu Hydropower Project in Bhutan Deal: Projects Firm: SKV Law Offices Jurisdictions: Bhutan; India $782 mln Bajaj Housing Finance’s IPO Deal: IPO Firms: Cyril Amarchand Mangaldas; Khaitan & Co; Linklaters Jurisdiction: India $771 mln Samvardhana Motherson’s qualified institutional placement Deal: ECM Firms: Cyril Amarchand Mangaldas; Khaitan & Co; Linklaters Jurisdiction: India $595 mln Prestige Estates’ qualified institutional placement Deal: ECM Firms: Cyril Amarchand Mangaldas; Trilegal; White & Case Jurisdiction: India $536 mln Ather Energy’s IPO Deal: IPO Firms: Cyril Amarchand Mangaldas; Latham & Watkins; Shardul Amarchand Mangaldas & Co Jurisdiction: India $1.2 bln NTPC Green’s planned IPO Deal: IPO Firms: JSA Advocates & Solicitors; Trilegal Jurisdiction: India NTPC Green Energy’s proposed $1.2 billion IPO aligns with India’s strong push for renewable energy and coincides with a booming stock market that has seen a surge in listings recently. September witnessed a record-breaking 41 companies filing for IPOs, the highest ever recorded in a single month, according to Axis Capital. This strong demand for capital market access reflects robust investor interest, increased liquidity, and positive market sentiment from both domestic retail and foreign institutional investors towards Indian equities. The robust IPO pipeline is driven by high participation from domestic investors and ample liquidity in the market. While experts are uncertain whether this bullish trend will continue into the last quarter of 2024, the current market conditions suggest that the momentum in IPO activity may persist. $525 mln Oravel Stays’ proposed acquisition of G6 Hospitality from Blackstone Deal: M&A Firms: AZB & Partners; Simpson Thacher & Bartlett Jurisdictions: India, U.S. $358 mln SpiceJet ‘s qualified institutional placement Deal: ECM Firms: Crawford Bayley & Co; Dentons Link Legal; Dentons U.S. Jurisdiction: India $290 mln Advent International’s acquisition of stake in Apollo Healthco Deal: M&A Firms: AZB & Partners; Cyril Amarchand Mangaldas; Ropes & Gray; Shardul Amarchand Mangaldas & Co Jurisdictions: India, U.S.
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