Sidley advised the book running lead managers on the US$1.2 billion IPO of ICICI Prudential Asset Management Company Limited — marking the largest IPO in India by an asset management company to date, and the fourth largest IPO of 2025 in India.
The book running lead managers comprised Citigroup, ICICI Securities, Morgan Stanley, Goldman Sachs, BofA Securities, Avendus Capital, Axis Capital, BNP Paribas, CLSA India, HDFC Bank, IIFL Capital Services, JM Financial, Kotak Mahindra Capital, Motilal Oswal, Nomura, Nuvama, SBI Capital Markets, and UBS Securities India.
The cross-border, multidisciplinary Sidley team was led by Manoj Bhargava (Singapore) and included Harekrishna J. Ashar (London), Oindree Bandyopadhyay and legal assistant Sanketh Hareesh Kumar (both Singapore), with support from Carla G. Teodoro, Robert M. Kreitman, Daniel A. O’Shea, Alvin Wang, and Michael H. Sliskovich (all New York), Andrew W. Shoyer (Washington, D.C.), and David A. Silva, Shu Min Ho, and Edward Lee (all Singapore).
Sidley is one of the most experienced international law firms advising on India-related capital market transactions, having acted on many of the market’s largest and most high-profile offerings in recent years. This year, Sidley’s award-winning India practice advised on the record-breaking US$1.75 billion IPO of Tata Capital — representing India’s largest IPO of 2025, the largest-ever public offering by a nonbanking financial company in India, and the fourth largest IPO in Indian history. In 2024, Sidley advised on the landmark US$2.15 billion FPO of Vodafone Idea — marking India’s largest-ever follow-on public offering of equity shares. In 2023, Sidley advised on Mankind Pharma’s US$530 million IPO, the largest Indian IPO of 2023. Since 2007, our team has advised on 280 offerings in India, helping raise over US$77 billion. The India Business Law Journal has ranked Sidley a “Top Foreign Law Firm” for India-related work for eight consecutive years.
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