Latham & Watkins has advised Hyundai Motor India Ltd. on its US$3.3 billion initial public offering on the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE). Citigroup Global Markets India, J.P. Morgan India, HSBC Securities and Capital Markets (India), Morgan Stanley India, and Kotak Mahindra Capital served as the book running lead managers for the IPO.

This transaction marks the largest initial public offering in India to date and the second largest IPO globally this year. It is also Hyundai Motors’ first listing of a unit outside of South Korea, with proceeds expected to enhance research and development for the automaker as part of its efforts to further improve market share in one of the world’s fastest growing auto markets.

The Latham team was led by Hong Kong partner Steve Kang, Singapore partner Rajiv Gupta, and Seoul counsel Diona Park, with associates Esha Goel, Bijun Huang, Jae Lee, and Chaitrika Bellana. Advice on US tax matters was provided by Chicago partner Rene de Vera and New York partner Jiyeon Lee-Lim, with associate Jay Khurana; and on regulatory matters by Boston counsel Joel Cavanaugh, with associate Ruchi Sharma.