Latham Advised on Seven India Deals of the Year

India Business Law Journal recognized Latham & Watkins for advising on seven of the publication’s 2025 Deals of the Year, underscoring the firm’s position at the forefront of India’s dealmaking market.

The publication selected the winning deals from nominations by Indian and international law firms, based on factors including overall significance, complexity, innovation, and deal size.

Latham advised on the following award-winning matters:

• Varanasi Aurangabad Highway’s US$316.3 Million Bond Issuance — The firm represented the issuer on the bond offering of a highway expansion project from Varanasi to Aurangabad. VAH became the first Indian road concession company to raise US dollar-denominated project debt in the international capital markets and to obtain investment grade ratings from Moody’s and Fitch.
• Hexaware’s US$1 Billion IPO — Latham advised the global software company on its IPO, which marks the largest-ever IT services IPO in India.
• Tata Capital’s US$1.75 Billion IPO — The firm advised Tata Capital on the offering, which represents the largest IPO in India in 2025 and the largest-ever IPO by an Indian non-banking financial company.
• MakeMyTrip’s US$3.1 Billion Convertible Notes and Primary Share Offerings — A cross-border Latham team represented India’s leading online travel company in the transaction, marking APAC’s largest concurrent equity-linked bond and equity follow-on deal since 2022.
• TPG’s US$1 Billion Investment in HyperVault — The firm advised the global alternative asset management firm on its strategic partnership with Tata Consultancy Services to support the growth of their AI data center business, HyperVault.
• Macquarie’s Sale of Vibrant Energy to Inox Clean Energy — Latham advised the global financial services firm on the sale of Vibrant Energy, a diversified renewable energy independent power producer, to Inox Clean Energy.
• Flourishing Trade and Investment’s Private Placement of US$750 Million Senior Secured Notes — Latham advised the company on its private placement of 11.035% senior secured notes due 2028. This transaction set a precedent for large-scale private credit in India’s infrastructure sector.