Khaitan & Co. advised global co-ordinators and the book running lead managers on the deal, while IndusLaw and Trilegal advised the selling shareholders on the transaction. Latham & Watkins advised One97 Communications Limited.
Paytm’s parent company One97 Communications Ltd executed an Initial public offering of the 85,116,278 equity shares, for cash at a price of INR 2,150 per equity share (including a share premium of INR 2,149 per equity share) aggregating to INR 183,000 million (approx. $2.4 billion).
Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, ICICI Securities Limited and HDFC Bank Limited acted as global co-ordinators and the book running lead managers.
Elevation Capital and SAIF Partners acted as selling shareholders.
The Khaitan & Co. team consisted of Partner Abhimanyu Bhattacharya (Picture), Aditya Cheriyan (Partner), Oishik Bagchi (Principal Associate), Devarshi Mukhopadhyay (Senior Associate), Ritika Khare (Associate), Saisha Darayus Bacha (Associate).
The IndusLaw team was led by Partners Vishal Yaduvanshi and Abhiroop Lahiri, and Principal Associate Abhyuday Bhotika.
The Trilegal team comprised Partners Rohan Ghosh Roy, Bhakta Patnaik and Richa Choudhary with other attorneys including, Anurag Shrivastav, Counsel; Maitreyee Kulkarni, Consultant; Vinit Patwari, Senior Associate; Pundrikaksh Mitruka, Chaitanya Deshpande and Suchisubhra Sarkar, Associates.
The Latham team was led by Singapore partner Rajiv Gupta with associate Esha Goel. Advice on tax matters was provided by Los Angeles partner Eric Cho and Century City partner Sam Weiner, with associate Ryan Brenner. Singapore partner Min Yee Ng and Chicago partner Nabil Sabki, with associate John Reinert, also advised on the transaction.
Involved fees earner: Abhyuday Bhotika – IndusLaw; Abhiroop Lahiri – IndusLaw; Vishal Yaduvanshi – IndusLaw; Saisha Bacha – Khaitan & Co.; Oishik Bagchi – Khaitan & Co.; Abhimanyu Bhattacharya – Khaitan & Co.; Aditya Cheriyan – Khaitan & Co.; Ritika Khare – Khaitan & Co.; Devarshi Mukhopadhyay – Khaitan & Co.; Ryan Brenner – Latham & Watkins; Eric Cho – Latham & Watkins; Esha Goel – Latham & Watkins; Rajiv Gupta – Latham & Watkins; Min Yee Ng – Latham & Watkins; John Reinert – Latham & Watkins; Nabil Sabki – Latham & Watkins; Samuel Weiner – Latham & Watkins; Richa Choudhary – Trilegal; Chaitanya Deshpande – Trilegal; Rohan Ghosh Roy – Trilegal; Maitreyee Kulkarni – Trilegal; Pundrikaksh Mitruka – Trilegal; Bhakta Patnaik – Trilegal; Vinit Patwari – Trilegal; Suchisubhra Sarkar – Trilegal; Anurag Shrivastav – Trilegal;
Clients: Axis Capital Limited; Citigroup Global Markets India Private Limited; Elevation Capital ; Goldman Sachs (India) Securities Private Limited; HDFC Bank Ltd; ICICI Securities Ltd.; J.P. Morgan India Private Limited; Morgan Stanley; One97 Communications Limited; SAIF Partners;