Sidley acted as international counsel to lead managers Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, and Jefferies India Private Limited in connection with the INR15.5 billion (approximately US$185 million) initial public offering (IPO) of equity shares of Concord Biotech Limited pursuant to Section 4(a) and Regulation S of the U.S. Securities Act of 1933. This marks the second-largest life sciences sector IPO in India since 2021.
Concord Biotech Limited is an India-based biopharma company and one of the leading global developers and manufacturers of select fermentation-based active pharmaceutical ingredients across immunosuppressants and oncology, supplying over 70 countries, including regulated markets such as the United States, Europe, Japan, and India.
The Sidley team was led by partner Manoj Bhargava and comprised counsel Shashwat Tewary and associates Jayant Bhardwaj and Daniel Ang (all based in Singapore); partners Prabhat K. Mehta, Robert M. Kreitman, Nicholas R. Brown, Carla G. Teodoro, and managing associate Alvin Wang (all based in New York); and partner Andrew W. Shoyer (based in Washington, D.C.).
Sidley is one of the most experienced international law firms executing capital markets transactions in India and other Asian markets. The India Business Law Journal has ranked Sidley a “Top Foreign Law Firm” for India work for six consecutive years. Sidley is also ranked the leading legal adviser globally for India equity offerings in 2022 for manager counsel and by overall deal count in Bloomberg Global Legal Adviser League Tables FY 2022 and was credited for advising on 12 India equity offerings in 2022, more than any other law firm.