Shearman & Sterling LLP has represented JPMorgan and Morgan Stanley in connection with the $1.5 billion follow-on ADR offering by Sterlite Industries (India) Limited which closed on 21 July 2009.

Sterlite Industries is one of India's largest non-ferrous metals and mining companies with interests and operations in aluminum, copper and zinc and lead. The net proceeds of the offering will be used for the further development of its power generation business in India, planned capital expenditures, planned and potential acquisitions and/or general corporate purposes. This offering is reported to be the largest equity sale in the US by a non-US company this year. Sterlite Industries' ADSs are listed on the NYSE and its shares are listed on the NSE and BSE.

Hong Kong Capital Markets partner Matthew Bersani led the Shearman & Sterling team, working with counsel Gail Ong (Singapore-Capital Markets) and associates Su-Ann Cheah (Singapore-Capital Markets), Hosea Chang (Hong Kong-Capital Markets) and Sara Chin (Hong Kong-Capital Markets) and legal assistant Derek Perriam (Singapore-Capital Markets).