Shearman & Sterling

Editorial analysis

    Shearman & Sterling's India practice is made up of a network of lawyers in offices across Asia, Europe, North and South America, providing integrated cross-practice advice on India-related deals. The firm has been active in the country for more than 20 years, and today the four-lawyer India desk operates under the leadership of Hong Kong partners Matthew Bersani and Sidharth Bhasin.

    Bersani is the firm’s Asia managing partner and is a specialist in capital markets work, and recently acted for the underwriters, led by Morgan Stanley, in the NASDAQ listing and US initial public offering of ordinary shares of MakeMyTrip: the first US IPO by an Indian company since 2006. He also acted for the underwriters, led by Merrill Lynch, Morgan Stanley, Citigroup and Nomura, in the $2 billion US IPO of India-based metals and mining company Sterlite Industries, and advised Deutsche Bank and Morgan Stanley as joint bookrunners in connection with the US$500 million US-registered convertible bond offering by Sterlite. Bhasin meanwhile is known for his private equity work, and recently acted for Goldman Sachs PIA in its US$200 million investment in ReNew Power in India; represented Norwest Venture Partners in connection with its acquisition of a 10 per cent stake in India’s Thyrocare Technologies; as well as acting for Norwest Venture Partners as part of a consortium of private equity investors in a US$425 million investment in Asian Genco, an infrastructure company with power generation assets in India.

    Lawyers from the firm also represented Jaguar Land Rover on its offering of $500 million fixed-rate high yield bonds due in 2023, and its offering of £500 million fixed-rate high yield bonds due in 2020; represented the mandated lead arranger in connection with a financing related to Mphasis Corporation’s acquisition of Digital Risk; and acted for JP Morgan Securities and Standard Chartered Bank as joint lead arrangers and joint bookrunners in connection with a $340 million financing for Tata Chemicals North America.