Linklaters Singapore on the forefront of India’s fundraising boom

Indian Companies massive fundraise has benefited many foreign law firms who advise their clients on IPOs, Right’s issues and shareholder exits during these fundraise events.

The latest IPO of MapmyIndia was able to raise in excess of 1,000 crores along with a strong listing on the Stock Market. Linklaters Singapore team led by Head of South and Southeast Asia Capital Markets partner Amit Singh was supported by the Bangkok office Counsel Joseph Wolpin advised the bankers Axis Capital and others. Cyril Amarchand Mangaldas and Shardul Amarchand offices (Partners Prashant Gupta and Nikhil Naredi), had advised MapmyIndia on the Indian law aspects of the IPO while IndusLaw represented the selling shareholder in the IPO.

Amit Singh commented, MapmyIndia is a market leader in this niche space of digital maps, geospatial software and location based IoT. As the digital experience continues to be the focus for apps, we look forward to seeing MapmyIndia tap into potential markets, including the automated driving sector as India strives to be future ready.”

In November, Linklaters also concluded the massive $ 2.8 Billion rights issue of Bharti Telecom. AZB & Partners and Shardul Amarchand Mangaldas advised the rights issue on Indian law aspects while Linklaters was the sole Foreign Law Firm.

After the Airtel transaction was completed Amit Singh said, “we are grateful for the confidence our clients have placed in us on this significant transaction. This is a clear testament to the strength of our team and our capabilities in working on some of the most structured capital markets deals in India and the region.”

Also in November, Linklaters concluded a 5,700 crore Policy Bazaar IPO. The new age tech IPOs have caught interest of several foreign law firms in representing Indian startups that are now flexing its strength by approaching Capital Markets. Linklaters in most cases has represented the bankers who are underwriting the IPO.

Since these tech firms had raised private equity money during their growth period, many of these PE Funds also required foreign law firms during their exit in these IPOs. Shardul Amarchand Mangaldas (Partner Prashant Gupta) and Cyril Amarchand Mangldas were the Advisors on Indian law to the Policy Bazaar IPO, Latham and Watkins advised PB Infotech (Policy Bazaar). Morrison & Foerster London and IndusLaw advised some of the Funds on this IPO.

Additionally, Linklaters advised another IPO for Anand Rathi Wealth where the company raised approximately 660 crores. Linklaters Singapore team representing the bankers of the IPO Equirus Capital, BNP Paribas and IIFL Securities, concluded this transaction.

AZB & Partners (Partners Varoon Chandra and Lionel D’Almeida) and JSA (Partners Arka Mookerjee and Pracheta Bhattacharya) were the advisors on Indian law aspects of the IPO.