Squire Patton Boggs in Singapore has announced that it is representing HSBC Securities, Axis Capital, ICICI Securities and Edelweiss Capital as US/international counsel on the approximate US$300 million Initial Public Offering (IPO) by Equitas Holdings Limited, one of the largest non-banking financial services companies in India. Equitas is the first Indian small finance bank to go to market and one of the largest initial public offerings out of India this year.

Equitas is one of the largest diversified financial services companies in India and the fifth largest microfinance company in India.  From its operations across India, Equitas currently provides loans to support micro and small businesses, vehicle finance, housing finance and small enterprise loans and it has recently also been awarded a small finance bank license.

Singapore-based corporate partner Biswajit Chatterjee is leading the deal, assisted by associates Salil Rajadhyaksha, Krishna TJ and Isha Malhotra. US senior counsel Fred Summer (Columbus) is providing financial services advice, and partners Mitch Thomson and Jim Gray (Cleveland), assisted by associate Alexios Hadji (Columbus), are providing US tax advice.

Squire Patton Boggs was also involved in the VRL Logistics IPO earlier this year, which was the most subscribed offering in the last 10 years, oversubscribed by 75 times, and the Prabhat Dairy IPO in September, which was the first dairy company IPO in India.