Cases & Deals

DSP Merrill Lynch and others underwrite US$625 million Indian IPO by Adani Power Limited

Clients DSP Merrill Lynch Limited

Jones Day advised DSP Merrill Lynch, Enam Securities, IDFC-SSKI, JM Financial Consultant, Kotak Mahindra, Morgan Stanley, ICICI Securities, SBI Capital, Edelweiss, India Infoline, and UBS, the underwriters, as international counsel in the US$625 million initial public offering in India by Adani Power Limited, subsidiary of Adani Enterprises Limited, one of the largest coal traders in India.

This IPO, one of the largest in India in 2009, was the first with an anchor investor concept and involved two regulatory review processes.

In April 2010, it was recognized as a "Deal of the Year" for India by the International Financial Law Review (IFLR) and Asialaw. The IFLR/Asialaw India Awards recognize the biggest and best deals in India from the last 18 months. Winning deals were chosen across a range of transactions and industries.