Advisement provided on the Initial Public Offering of Carraro India Limited by our legal firm.
White & Case LLP Advises on Carraro India Limited's Successful IPO
White & Case LLP, a global law firm, has once again made headlines in the Indian market, having advised on the initial public offering (IPO) of Carraro India Limited. The offering, which raised ₹12.5 billion (approximately US$145.64 million), was completed on the National Stock Exchange of India and was subscribed 1.12 times upon closing.
Carraro India Limited, a subsidiary of the Carraro Group, is an original equipment manufacturer (OEM) that specializes in manufacturing transmission systems for tractors and off-highway vehicles. The successful IPO will unlock further value in Carraro Group's India business, according to White & Case partner Rahul Guptan.
The White & Case team that advised on the IPO was led by partners Rahul Guptan (London), Kaya Proudian (Singapore), and Steven Gee (New York). The team included associates Rachna Talati (Singapore), Ece Kuregibuyuk (London), Hilda Leung, Paul Qu, Royston Tan (all Hong Kong), and Nir Fishbien (New York).
Dr. Nir Fishbien, a partner in the Tax, Mergers & Acquisitions, Private Capital, Capital Markets service areas, played a significant role in the deal. Steven Gee, a partner in the Tax, Mergers & Acquisitions, Life Sciences and Healthcare, Technology, Financial Institutions service areas, also contributed to the successful outcome of the IPO.
The book running lead managers for the IPO were Axis Capital Limited, BNP Paribas, and Nuvama Wealth Management Limited. White & Case LLP also advised the book running lead managers on the IPO.
The Carraro Group started its international expansion by entering the India market and establishing Carraro India Limited in 1997. Today, the global presence of the Carraro Group spans the United States, Argentina, Brazil, Luxembourg, Italy, India, and China.
In addition to the Carraro India Limited IPO, White & Case LLP also advised on two other significant India IPOs in December 2024: the International Gemological Institute (India) Limited IPO and the proposed IPO of Anthem Biosciences Limited.
Interestingly, White & Case LLP also advised a company participating in a planned IPO in the United States in December 2024, but the specific company name is not provided in the search results.
Royston C. Tan, a partner in the Litigation, International Arbitration, Economic Sanctions & Export Controls, White Collar/Investigations service areas, based in Hong Kong SAR, was also involved in the Carraro India Limited IPO. Ece Kuřegibuyuuk, a partner in the Capital Markets service area, and Hilda Leung, another partner in the Capital Markets service area, based in Hong Kong SAR, also contributed to the deal.
All proceeds of the Carraro India Limited IPO will go to Carraro International S.E., the parent company of Carraro India. This successful IPO is a testament to White & Case LLP's expertise in the capital markets and their commitment to helping clients achieve their business objectives.
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