Latham Advises on Pine Labs’ US$440 Million IPO
Latham & Watkins has advised the book running lead managers on Pine Labs Limited’s US$440 million initial public offering (IPO) on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE).
Axis Capital Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, J. P. Morgan India Private Limited, and Jefferies India Private Limited were the book running lead managers on the transaction.
Latham has advised on a number of India’s largest IPOs this year, including most recently the US$748 million IPO of Groww, the US$ 1.75 billion IPO of Tata Capital, the largest IPO in India to date this year, and the US$1.3 billion IPO of LG Electronics, the third largest IPO in India to date this year.
The Latham team was led by Singapore partners Rajiv Gupta and Stacey Wong, with associate Kay Howe Lee and Foreign Legal Consultant Neha Sahgal. Advice was also provided on US tax matters by Los Angeles partner Eric Cho, with New York associate Sam Yang; and on regulatory matters by Chicago partner Laura Ferrell, with associate Jennifer Tian.
About Pine Labs
Pine Labs Limited is a technology company digitising commerce, through digital payments and issuing solutions in India and across the globe. The company has built an advanced technology infrastructure to help accelerate the digitisation journey of merchants, consumer brands, enterprises, and financial institutions. Pine Labs operates in India and a growing number of international markets including Malaysia, UAE, Singapore, Australia, the US, and Africa.
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 practices among international law firms. The multi award-winning practice comprises more than 50 lawyers globally, and the team has advised on India-related matters with a combined value in excess of US$100 billion since 2018.