Sidley acted as international counsel to lead managers Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, and J.P. Morgan India Private Limited in connection with the INR17 billion (approximately US$205 million) IPO of Honasa Consumer Limited.

Honasa Consumer Limited is the largest digital-first beauty and personal care company in India by revenue from operations for financial year 2022. It is well known for its flagship brand, Mamaearth, which specializes in safe-to-use and toxin-free beauty products made with natural ingredients. In addition, the company has built a House of Brands architecture, with five other brands in its portfolio.

The Sidley team was led by partner Manoj Bhargava and comprised counsel Shashwat Tewary and associate Edward Lee (all in Singapore) and managing associate Harekrishna J. Ashar (London) as well as partners Carla G. Teodoro, Nicholas R. Brown, and Robert M. Kreitman and managing associate Alvin Wang (all in New York).

Sidley is one of the most experienced international law firms executing capital markets transactions in India and other Asian markets. The India Business Law Journal has ranked Sidley a “Top Foreign Law Firm” for India work for six consecutive years. Sidley is also ranked the leading legal adviser globally for India equity offerings in 2022 for manager counsel and by overall deal count in Bloomberg Global Legal Adviser League Tables FY 2022 and was credited for advising on 12 India equity offerings in 2022, more than any other law firm.