Coal India, the world’s largest coal miner, has made history with its initial public offering on the National Stock Exchange of India and the Bombay Stock Exchange. The offering raised US$3.43 billion, making it the largest IPO in India to date and the third largest in the world this year.
DLA Piper advised Coal India and the Indian government, which acted through the Department of Disinvestment, on the IPO. DLA Piper’s team was led by Stephen Peepels, a capital markets partner based in Hong Kong. He was supported by Biswajit Chatterjee, Leander Coutinho and Soni Tiwari from the firm’s Singapore office. Jack Kantrowitz from DLA’s New York office advised on US securities law issues, while Jonathan Ciner from the firm’s Washington office advised on international tax matters.
Luthra & Luthra worked alongside DLA Piper as the domestic adviser to Coal India. Its team was led by partner Madhurima Mukherjee, with support from fellow partner Manan Lahoty, senior associates Geeta Dhania and Sudeshna Chatterjee and 12 associates from the firm’s capital markets team.
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