IPO is the largest by an Indian company since 2012 and the first by an airline in India since 2006.

Latham & Watkins represented Citigroup Global Markets, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited as Global Coordinators and Book Running Lead Managers and Barclays Bank PLC, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited as Book Running Lead Managers, in the Rs 3008.5 crore (approximately US$460 million) initial public offering (IPO) of shares by InterGlobe Aviation Limited (“Indigo Airlines”).

The IPO, which was listed on the Bombay and National Stock Exchanges, is the largest by an Indian company since 2012 and the first by an airline in India since 2006.
The Latham & Watkins team was led by Singapore partner Rajiv Gupta, with Singapore associates Scott Calver and Stacey Wong. US tax advice was provided by New York partner Jiyeon Lee-Lim, with New York associates Aaron Bernstein and Bora Bozkurt.

Rajiv Gupta, head of the firm’s India Practice, commented: “We are very proud to have advised the underwriters on such a landmark transaction. InterGlobe’s successful capital raising is testament to the strength of the Indian market, and the growth that we have seen over the past 20 years of working with Indian clients.”