Latham Advises on Zetwerk’s US$529 Million IPO

Latham & Watkins has advised the book-running lead managers on Zetwerk Manufacturing Businesses Limited’s US$529 million initial public offering (IPO) on the National Stock Exchange of India (NSE) and the BSE (formerly Bombay Stock Exchange). 

Kotak Mahindra Capital Company Limited; Morgan Stanley India Company Private Limited; Goldman Sachs (India) Securities Private Limited; Avendus Capital Private Limited; JM Financial Limited; HSBC Securities and Capital Markets (India) Private Limited; and Pantomath Capital Advisors Private Limited acted as the book running lead managers in the transaction.

The Latham team was led by Singapore partner Rajiv Gupta and Hong Kong partner Dominik Sklenar, with associates Jay Watanatornpitak, Kay Howe Lee, and Helan Sun. Advice was also provided on tax matters by Chicago partner Enrique Rene de Vera.

The IPO is the latest in a series of recent IPOs across a wide range of industries on Indian stock exchanges on which Latham has advised, including the National Stock Exchange of India Limited’s US$2.36 billion IPO — the country’s largest IPO year-to-date and its second largest-ever listing — as well as Moneyview, Horizon Industrial Parks, Manipal Health Enterprises, Dhoot Transmission, and Shiprocket.

About Zetwerk

Zetwerk Manufacturing Businesses Limited is a technology-led, asset-light manufacturing platform serving customers across industries including utilities, renewables, consumer electronics, artificial intelligence infrastructure, aerospace, space and defense, oil and gas, and industrial automation.

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.