Four firms lead $2.5bn London initial public offering

April 23, 2010 Essar Energy, a subsidiary of Indian conglomerate Essar Group, is set to float around 20 to 25 percent of its shares – worth $2.5 billion – in its London initial public offering. The funds will be used to expand the power generation and energy exploration operations of the integrated oil and gas unit of Mumbai-based company. The listing is reportedly the largest on the London exchange in nearly three years.

Essar Energy has turned to Freshfields Bruckhaus Deringer corporate partners Stuart Grider and Neil Radford for advice on the offering, and have secured the services of Amarchand Mangaldas as local counsel in India.

Essar Energy's underwriters at Deutsche Bank and JPMorgan Chase are advised by Linklaters capital markets partner Patrick Sheil and corporate partners Robert Cleaver and Charlie Jacobs. Talwar Thakore is providing Indian legal counsel.

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