Latham & Watkins advised on the debut listing of India’s largest payments platform One97 Communications Limited, which operates under the brand ‘Paytm’, on the National Stock Exchange of India Limited (NSE) and BSE Limited (formerly the Bombay Stock Exchange). The offering was oversubscribed 1.89 times and raised a total of INR 18,300 million (approx. US$2.4 billion), making the transaction the largest-ever public issue in Indian capital market history. The underwriters were Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, J.P. Morgan India Private Limited, Citigroup Global Markets India Private Limited and HDFC Bank Limited. The deal team was led by Singapore partner Rajiv Gupta with associate Esha Goel. Advice on tax matters was provided by Los Angeles partner Eric Cho and Century City partner Sam Weiner, with associate Ryan Brenner. Singapore partner Min Yee Ng and Chicago partner Nabil Sabki, with associate John Reinert, also advised on the transaction. About Paytm Paytm is India’s largest payments platform based on the number of consumers, number of merchants and number of transactions. It offered payment services, commerce and cloud services and financial services to 337 million registered consumers and over 21.8 million registered merchants as of June 30, 2021. About Latham’s India Practice With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practices among international law firms. The multi-award winning practice comprises more than 50 lawyers globally, and the team have advised on India-related matters with a combined value in excess of US$90 billion since 2018.~~