CAM, S&R, Davis Polk on ICICI IPO

Monday, 3 October 2016 By Prachi Shrivastava Capital Markets

Cyril Amarchand Mangaldas (CAM) advised ICICI Prudential Life Insurance and ICICI Bank on Rs 60,568 million initial public offer. S&R Associates and Davis Polk & Wardwell advised the lead managers to the issue: DSP Merrill Lynch, ICICI Securities, CLSA India, Deutsche Equities India, Edelweiss Financial Services, HSBC Securities and Capital Markets (India), IIFL, JM Financial Institutional Securities, SBI Capital Markets and UBS Securities India.

CAM Mumbai banking partner Shashikant Bhojani and capital markets partner Gaurav Gupte acted for ICICI

S&R partners Sandip Bhagat and Jabarati Chandra and Davis Polk corporate counsels Gerhard Radtke and Faisal Baloch and associate Varun Natteri Mangadu acted for the lead managers.

“This is the first initial public offering of an insurance company in India, making the Company the first listed insurance company in India. The norms for public offers of life insurance companies were liberalized in December 2015, including being the largest IPO in the financial services sector in India. Further, this is largest IPO in India since the IPO of Coal India Limited in 2010, 5th largest IPO and the 3rd largest private sector IPO in India and also the largest life insurance IPO in Asia (ex-Japan) since 2012,” according to CAM’s press release.

Comments

Prudential 3 Oct 2016, 15:45

+0 -0

Prudential is a significant shareholder. Didn't it engage a law firm? Strange.

They did 5 Oct 2016, 08:01

Yes they did - their law firm was Khaitan & Co. Kian you failed to report the selling shareholder counsel's name.

Alias 5 Oct 2016, 08:25

Khaitan advised prudential I think.

Guest 5 Oct 2016, 09:42

why is it strange?

Merchant banker 3 Oct 2016, 16:04

+0 -2

Well done. CAM is undisputed leader of CM.

Guest 4 Oct 2016, 08:41

+5 -2

have you heard of a Mr. Sandip Bhagat - you probably would have if you were a merchant banker

Guest 5 Oct 2016, 09:43

Mr. Bhagat and his firm are great CM lawyers, however, the best is still CAM

Bhatta 3 Oct 2016, 17:40

+7 -0

Please write "Paid News" in the preamble!

Guest 3 Oct 2016, 20:41

+1 -2

How is this paid news Bhatta ! IPOs deals are all public information available on SEBI's website. Is your argument that CAM was not legal counsel to ICICI Pru & it's principal shareholder ICICI Bank?

Kem Cho 3 Oct 2016, 18:03

+2 -5

Cyril Amarchand Mangaldas is the undisputed king of capital markets in India. No comparison with anyone...Yash rocks !

Huh? 3 Oct 2016, 23:50

+8 -0

Dude Yash wasn't even on the deal. Funny, that an Insurance IPO was lead by Bhojani, a life banking lawyer. And don't get me started into his ICICI links...

its ok 5 Oct 2016, 09:48

Dude ever heard of a relationship partner ???

LILF 4 Oct 2016, 03:43

+1 -1

Earning the diwali bonus i see. Its not going to come!

Cam po che 3 Oct 2016, 20:02

+7 -2

This is definitely a paid post to put cam in good light. CAM deserves to be number 10 or 11 in the Indian rankings. CAM has no vision....sorry it does have a vision - an unclear disorganised one to grow at the cost of its employees. That doesn't ever work.

303 4 Oct 2016, 06:56

+2 -0

Good going GUG!

Cravath Associate 4 Oct 2016, 13:11

+6 -1

S&R is a really nice capital markets firm

Starky 4 Oct 2016, 21:33

Well done Gaurav Gupte!

its okwe 5 Oct 2016, 09:51

+1 -0

Congratulations to Gaurav AND his team for successfully executing one of the most complicated transactions in the recent past.

Name or alias 5 Oct 2016, 12:55

S&R usually includes the associates' names in the media releases re: the transactions it completes, so that the associates get the recognition they deserve. Have they started deviating from this practice, or did you censor their release, Kian?

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