Latham & Watkins has advised the National Stock Exchange of India Limited on its US$2.36 billion initial public offering (IPO) in India. This represents India’s largest IPO in 2026 to date. It also marks the country’s second largest-ever listing after Hyundai Motor India’s US$3.3 billion IPO, on which Latham also advised.
National Stock Exchange of India Limited operates India’s largest stock exchange and provides trading, clearing, settlement, index, data, and market infrastructure services across multiple asset classes.
The Latham team was led by Singapore partner Rajiv Gupta, with Singapore counsel Esha Goel and foreign legal consultant Neha Sahgal. Advice was also provided on 40 Act matters by Chicago partner Laura Ferrell, with Washington, D.C. counsel Meghan Carey, and associates Katherine Ryan and Micaela Lucero Little; and on tax matters by Chicago partner Rene deVera, with associate Shangpu Sun.
The IPO is the latest in a series of recent IPOs on Indian stock exchanges on which Latham has advised, including Horizon Industrial Parks, Manipal Health Enterprises, Dhoot Transmission, and Shiprocket.
ABOUT NATIONAL STOCK EXCHANGE OF INDIA LIMITED
National Stock Exchange of India Limited operates India’s largest stock exchange and provides trading, clearing, settlement, index, data, and market infrastructure services across multiple asset classes. The NSE provides a comprehensive, one-stop platform to manage regulatory compliance, risk monitoring, and post-trade settlement, and offers a diversified range of products across multiple asset classes, including cash market, futures, options, mutual funds platform, commodity derivatives, exchange-traded currency derivatives, wholesale debt market, and interest rate futures, among others.
ABOUT LATHAM’S INDIA PRACTICE
With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practices among international law firms. The multi award-winning practice comprises more than 50 lawyers globally, and the team has advised on India-related matters with a combined value in excess of US$100 billion since 2018.
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