Ashurst advised Jubilant Energy NV, an oil and gas exploration and production company focused on India, on the largest oil and gas AIM IPO in 2010 and the third largest overall.
The company raised approximately £50 million, giving it a market capitalisation on admission of over £320 million.
Jubilant Energy is a part of a wider group, the ultimate holding company of which is Jubilant Enpro which is controlled by Messrs Shyam Sunder Bhartia and Hari Shanker Bhartia, and has diversified business interests in various industries including pharmaceuticals, life sciences, aerospace and food and services.
The Ashurst team was led by corporate partner Nick Bryans, assisted by senior associate Matthew Cole and associate Rajvir Jheeta. The wider team included partners Richard Gubbins (head of Ashurst’s India business group), Nick Williamson, Hong Kong-based US securities partner Stuart Rubin and energy partner Anthony Patten, as well as senior energy associate Jubilee Easo.
Nick Bryans said: “Jubilant is really well positioned to take advantage of the current India opportunity given its portfolio of significant oil and gas reserves, technical expertise and experience and we are delighted to have steered them through this process.
“This deal represents a significant transaction in the London market for a company operating in India, and another significant instruction for the firm’s Indian capital markets practice. Ashurst has also recently advised on Coal India, India’s largest-ever IPO, on the IPO of Oil India, where Ashurst acted as international counsel and on Central Asia Metals, the largest mining AIM IPO of the year to date. We are increasingly focusing on specialist sectors such as energy and mining.”
Nauta Dutilh advised the company on Dutch law matters and Clifford Chance advised the joint bookrunners, Evolution Securities and Renaissance Capital.
Related Posts:
- None Found