Starting news article english 15 August 2011

Clifford Chance advises on L&T Finance's IPO on Indian Stock Exchanges

Leading international law firm Clifford Chance has advised JM Financial, Citigroup, HSBC, Barclays Capital, Credit Suisse and Equirus Capital as lead managers on L&T Finance Holdings Limited's INR12.36 billion (approx US$275 million) listing on the Bombay Stock Exchange and the National Stock Exchange of India.

L&T Finance offers a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, through its direct and indirect subsidiaries in India. The company is part of the Larsen & Toubro Group, one of India's leading conglomerates.

"We're delighted to have worked on L&T Finance's IPO," said Edward Bradley, partner and Head of the firm's India Capital Markets Unit. "This is one of the very few Indian non-banking finance companies to undertake an IPO and its success could stimulate the Indian IPO market."

Edward led the transaction, assisted by senior associate Gareth Deiner and associate Kristen Reddy, all based in Singapore.