SINGAPORE, 25 March 2023―Duane Morris & Selvam LLP advised on two of the India Business Law Journal’s Deals of the Year 2022: Life Insurance Corporation of India’s (LIC) initial public offering, which is the largest IPO ever in India, and DreamFolks Limited’s IPO.
Duane Morris & Selvam acted as international legal counsel to the president of India and LIC on LIC’s IPO, with the president of India raising INR210 billion (USD2.7 billion) by selling a 3.5% stake of the outstanding shares in the IPO. Duane Morris & Selvam’s team was led by Jamie Benson, a director in the Singapore office and head of the U.S. capital markets, U.S. venture capital and India practices, and included Hope Krebs, a partner in Duane Morris’ Philadelphia office; Lucia Orozco, a senior associate in the Singapore office; and Yeo Ming Ze, an associate in the Singapore office.
Duane Morris & Selvam acted as the special international legal counsel to the book running lead managers, Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited, on DreamFolks Limited’s IPO. DreamFolks, India’s largest airport service aggregator platform, raised INR5.6 billion (USD70 million) in its IPO. Duane Morris & Selvam’s team was led by Jamie Benson, a director in the Singapore office and head of the U.S. capital markets, U.S. venture capital and India practices.
About Duane Morris & Selvam LLP
Duane Morris & Selvam LLP is the joint law venture between Duane Morris LLP and Selvam LLC, with its headquarters in Singapore. By way of its global platform and extensive range of legal services, the firm helps companies conduct business in and out of Asia, the United States, Latin America, the United Kingdom and beyond. In addition to the excellent skills of its lawyers, clients benefit from the cultural fluency and key relationships that the firm has developed over many years of practising law throughout the region. The firm has a presence in the key markets of Southeast Asia, including Singapore, Hanoi, Ho Chi Minh City, as well as offices in Shanghai and Yangon. Supporting these regional offices, the firm operates a series of country desks for India, Indonesia, Korea and Japan. It is regularly ranked among the region’s leading law firms by Chambers & Partners, The Legal 500 and IFLR1000.
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