Cyril Amarchand Mangaldas advised the underwriters on LG Electronics India Limited’s IPO, the highest subscribed ‘large’ IPO in India.
The leading law firm in India, Cyril Amarchand Mangaldas, advised the underwriters on the initial public offering (IPO) undertaken by LG Electronics India Limited, a part of the South Korea-based LG Electronics Group.
The underwriters included Axis Capital Limited, Citigroup Global Markets India Private Limited, Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, and BofA Securities India Limited.
The IPO comprised an offer for sale by LG Electronics Inc., the South Korea-based parent entity of the company, aggregating up to approximately INR 116,047.32 million (the “Offer”). The Offer received an overall subscription of over 54 times the offer size, with strong participation from institutional investors. It received bids worth over INR 4.4 lakh crore, making it the most subscribed ‘large’ IPO in India.
LG Electronics India Limited is a leading consumer electronics manufacturing company with a wide range of products, including washing machines, refrigerators, panel televisions, inverter air conditioners, and microwaves.
The Cyril Amarchand Mangaldas team advising the underwriters was led by Gokul Rajan (Partner & Regional Co-Head – Capital Markets – North) and Puneet Passi (Partner), with support from Aniran Ghoshal (Principal Associate), Priyanka Khetwal (Senior Associate), Ayushi Tiwari (Senior Associate), Abishek Sankar (Associate), Arnab Roy (Associate), Shvabh Chakarwarti (Associate), and Avni Srivastava (Associate).
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