Latham & Watkins advises on Reliance Industries US$3.4 billion Tower InvIT Initial Offering
Latham & Watkins represented ICICI Securities, as lead manager, in connection with a US$3.4 billion initial offering of 2,521,500,000 units in Tower Infrastructure Trust to Brookfield Infrastructure Partners L.P and others through a private placement.
Tower Infrastructure Trust is an Infrastructure Investment Trust (InvIT) that was set up by its sponsor, Reliance Industrial Investments and Holdings Limited, a wholly-owned subsidiary of Reliance Industries Limited, and is listed on the Bombay Stock Exchange (BSE). Tower Infrastructure Trust holds a high-quality portfolio of more than 170,000 telecommunication towers in India, making it one of the largest independent tower companies in India.
The Latham team was led by Singapore partner and India Practice Head Rajiv Gupta, supported by Singapore associates Stacey Wong and Su Yeun Yang.
About Latham’s India Practice:
With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practice’s among international law firms. The multi-award winning practice comprises more than 50 lawyers globally, and the team have advised on India-related matters with a combined value in excess of US$68 billion since 2017.
About Reliance Industries:
Reliance Industries Limited is an Indian multinational conglomerate company headquartered in Mumbai. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.