SINGAPORE, 29 September 2025 — Duane Morris & Selvam LLP acted as the international legal counsel to IIFL Capital Services Limited and HDFC Bank Limited in their capacity as the book running lead managers on the recent sale of INR 5,642.59 million (US$64 million) of shares in GK Energy Limited in a pre-IPO and IPO in India and concurrent private placements outside India. The shares were listed on the NSE and BSE on 26 September 2025.
The IPO garnered remarkable interest from investors, with a QIB subscription of approximately 186.29 times, NII subscription of around 122.73 times, retail subscription of approximately 20.79 times, and an overall subscription of approximately 89.62 times.
Duane Morris & Selvam’s team was led by Jamie Benson, the head of the U.S. capital markets, U.S. venture capital and India practices. The deal team also included Paul Marks, a special counsel in the Hanoi office, Priya Selvam, a senior associate in the Singapore office, Colette Tan, an associate in the Singapore office, and Faiz Jugari, an associate in the Singapore office.