Sidley represented the underwriters, including ICICI Securities Limited, HDFC Bank Limited, Motilal Oswal Investment Advisors Private Limited and Citigroup Global Markets India Private Limited, in a Section 4(a) and Regulation S initial public offering of AU Small Finance Bank. The total offering amount was approximately US$295 million.

AU Small Finance Bank is a retail-focused small finance bank that has recently transitioned from a prominent, retail focused non-banking finance company and primarily serves low and middle income individuals and businesses that have limited or no access to formal banking and finance channels.

The multi-office Sidley team was led by partner Manoj Bhargava (Singapore) and associate Varun Jetly (Singapore), and included partner Nicholas Brown (New York), counsel Ankit Kashyap (Singapore), associates Rishabh Gupta (Singapore), Lindsay Bourne (Washington, D.C.), and Joshua Lingerfelt (New York), with support from legal assistant Krittika Shah (Singapore)