Amarchand SR and Latham collaborate on Sterlite Energys 5100 crore IPO

The Delhi offices of Amarchand Mangaldas are advising Sterlite Energy on its Rs. 5100 crore ($1 billion) initial public offering (IPO). This is the second largest offering in recent times, after NHPC’s Rs. 6,000 crore IPO ($1.2 billion). S&R Associates, led by Partner Sandeep Bhagat, are advising the Global Co-ordinators and Book Running Lead Managers. This is S&R’s fifth capital markets transaction this year, although the firm has been very emphatic about its plans to diversify into other practice areas and shed its tag of being a ‘capital markets firm’..The Singapore offices of Latham & Watkins, led by India Practice Partner Rajiv Gupta, are acting as the international legal counsel to the Global Co-ordinators and Lead Book Running Managers..The Delhi offices of Amarchand Mangaldas are advising Sterlite Energy on its Rs. 5100 crore ($1 billion) initial public offering (IPO). This is the second largest offering in recent times, after NHPC’s Rs. 6,000 crore IPO ($1.2 billion). Sterlite Energy’s compliance and legal issues were handled by the Company Secretary and Compliance Officer, Sandeep Agrawal..Sandeep H Junnarkar, Managing Partner of Bombay-based Junnarkar & Associates, is on the Board of Sterlite Energy as an Independent Director. Junnarkar was previously a Partner at Kanga & Co., whose Partners appear to be favourites for appointments as Independent directors. Managing Partner M.L Bhakta has been a non-executive director at Reliance since 1977, and was recently appointed to the Board of Lodha Developers..Delhi-based S&R Associates, led by Capital Markets Partner Sandeep Bhagat, are advising the Global Co-ordinators and Book Running Lead Managers. The transaction was assisted by Associates Venkatesh Vijayaraghavan, Gantavya Chandra and Prashant Roy..This is S&R’s fifth capital markets transaction this year. S&R has been very emphatic about its plans to diversify into other practice areas and shed its tag of being a ‘capital markets firm’. Partner Sandeep Bhagat, talking to Bar & Bench, said that the firm was indeed working on several non-capital market transactions, such as Henderson Equity Partners’ investment in Genesis Colors. “It is just that Capital Markets transactions are more public,” he says. When asked whether the revival of the markets and the rush of new clients have made his diversification plans harder, he responded, “I wouldn’t say that it was difficult, exactly- it’s just that we are getting more of one kind of work. But our other [less high profile] practices, like the Litigation team, have also been busy.”.The Singapore offices of Latham & Watkins, led by India Practice Partner Rajiv Gupta, are acting as the international legal counsel to the Global Co-ordinators and Lead Book Running Managers.