Shearman & Sterling's India Group has enjoyed an extremely successful 12 months, highlighted by recent award wins across several practice areas. Recognition for the India Group in the 2009-10 awards season includes:
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Debt and Equity-linked Deal of the Year: Sterlite’s convertible bond issue—IFLR/Asialaw India Awards 2010
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India Telecoms Deal of the Year Award: Aircel financing—Project Finance Magazine 2009
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Capital Markets Deal of the Year: Sterlite’s ADS issue—Indian Business Law Journal 2009
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Asia-Pacific Cross-Border Deal of the Year (5 million USD+) Norwest Venture Partners' acquisition of a stake in the National Stock Exchange of India—Asia M&A Atlas Awards 2009
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Asia-Pacific Cross-Border Deal of the Year (200 million USD+) Aegis BPO's acquisition of People Support Inc—Asia M&A Atlas Awards 2009
Shearman & Sterling’s India Practice consists of a team of lawyers from different disciplines based in offices in Asia, Europe and North America.
"We are very pleased to be acknowledged for our significant role in these important transactions," said Rohan S. Weerasinghe, Shearman & Sterling's Senior Partner and the head of the firm's India Group. "We continue to work on some of the most noteworthy, complex transactions involving Indian companies and global companies investing in India. Our involvement is a tribute to both our firm's global reputation and to the talents of our India Group members."
Recent highlights for the India Group include Norwest Venture Partners’ $425 million investment in Asian Genco, the biggest private equity transaction in the power sector in India and the first investment in India in excess of $300 million since 2008; Northgate Capital’s acquisition by Religare Enterprises, an Indian financial services firm; Norwest Venture Partners’ acquisition of a stake in the National Stock Exchange of India Limited, the first investment in the NSE under the foreign institutional investor route; Vedanta Resources plc's US$1.25 billion Rule 144A/ Regulation S bond offering, the largest-ever bond offer by an Indian corporate and the biggest high-yield offer by an Asian corporate; and Sterlite’s US$500 million convertible bond offering, which featured the highest conversion premium on an Asian convertible bond in 2009 at 37.5% and represented one of the most significant registered convertible bond offerings out of India in recent times.