AZB & Partners fields a ‘highly skilled and hands-on’ capital markets team that handles landmark transactions for an impressive roster of clients including issuers, investment banks and private equity houses. Team head Varoon Chandra has an extensive practice, with particular strength in domestic and international debt issuances, QIPs, and GDRs. FPOs are dealt with by Lionel D’Almeida whilst Srinath Dasari handles IPOs for Indian companies. However, the group has faced multiple departures, with Madhurima Mukherjee and her team joining J Sagar Associates in June 2020.
Capital markets in India
AZB & Partners
Practice head(s):
Other key lawyers:
Testimonials
‘The capital markets team at AZB is full-service, highly skilled and hands-on. We have worked with them on a number of debt and equity issuances in the last year and they have always been a pleasure to work with.’
‘Varoon Chandra is clever, commercial, pragmatic and knows the Indian regulations inside out. He is able to handle various transactional challenges with skill and experience, which is deeply appreciated and goes a long way towards the smooth execution of the transaction.’
‘Agnik Bhattacharya in Delhi is very hands on, has an excellent understanding of the complex Indian regulations and can be trusted to communicate these clearly and offer helpful solutions. Having him on a deal is a pleasure and significantly helps client communication.’
Key clients
Au Small Finance Bank Limited
Apeejay Surrendra Park Hotels Limited
Atria Convergence Technologies Limited
Axis Bank Limited
Bandhan Bank Limited
Bharti Airtel Limited
BSE Limited
Capital First Limited
Central Depository Services (India) Limited
Chindata Group Holdings Limited
Coldex Limited
Computer Age Management Services Limited
CSB Bank Limited
Craftsman Automation Limited
Delta Corp Limited
DLF Limited
Dodla Dairy Limited
Easy Trip Planners Limited
Eros International Plc
GMR Infrastructure Limited
HDFC Asset Management Company Limited
HDFC Bank Limited
HDFC Standard Life Insurance Company Limited
Hinduja Leyland Finance Limited
Housing Development Finance Corporation Limited
ICICI Bank Limited
ICICI Prudential Asset Management Co. Limited
Indiabulls Housing Finance Limited
Indiabulls Ventures Limited
IndiaMART InterMESH Limited
Indian Railway Finance Corporation Limited
Infosys Limited
InterGlobe Aviation Limited
Jain Irrigation Systems Limited
JM Financial Limited
JM Financial Credit Solutions Limited
JM Financial Products Limited
JSW Steel Limited
Kalyan Jewellers Limited
Kotak Mahindra Bank Limited
Lemon Tree Hotels Limited
Larsen & Toubro Limited
LT Foods Limited
M. Pallonji & Company Private Limited
Mahindra Logistics Limited
Max Ventures and Industries Limited
Max Healthcare Institute Limited
Metropolis Healthcare Limited
Motherson Sumi Systems Limited
Mrs. Bectors Food Specialities Limited
Muthoot Finance Limited
Nazara Technologies Limited
National Commodity & Derivatives Exchange Limited
National Stock Exchange of India Limited
Novartis India Limited
Patel Infrastructure Limited
PI Industries Limited
PNB Metlife India Insurance Company Limited
Polycab India Limited
Prince Pipes and Fittings Limited
Redington (India) Limited
RBL Bank Limited
Reliance Industries Limited
S Chand And Company Limited
Sansera Engineering Limited
SAMHI Hotels Limited
SBI Cards and Payment Services Limited
SBI Life Insurance Company Limited
Seven Islands Shipping Limited
Shriram Transport Finance Company Limited
Sintex Industries Limited
SRF Limited
Sterling and Wilson Solar Limited
Stove Kraft Limited
Tata Consultancy Services Limited
Tata Investment Corporation Limited
Tata Motors Limited
Tata Steel Limited
Tata Capital Financial Services Limited
TCNS Clothing Co. Limited
TeamLease Services Limited
The Indian Hotels Company Limited
The New India Assurance Company Limited
Thomas Cook (India) Limited
Tower Infrastructure Trust
Varun Beverages Limited
VTB Capital plc
YES Bank Limited
Thomas Cook (India) Limited
Investment Banks
A.K. Capital Services Limited
Axis Capital Limited
Barclays Bank Plc.
Centbank Financial Services Limited
Citigroup Global Markets India Private Limited
Credit Suisse Securities India Private Limited
CLSA India Private Limited
DAM Capital Advisors Limited (formerly IDFC Securities Limited)
Deutsche Equities India Private Limited
DSP Merrill Lynch Limited
Edelweiss Financial Services Limited
Emkay Global Financial Services Limited
Equirus Capital Private Limited
Fortune Financial Services (India) Limited
Goldman Sachs India (Securities) Private Limited
Haitong Securities India Private Limited
HDFC Bank Limited
HSBC Securities and Capital Markets (India) Private Limited
ICICI Securities Limited
India Infoline Limited
IDBI Capital Markets & Securities Limited
IIFL Holdings Limited
IIFL Securities Limited
Inga Advisors Private Limited
Intensive Fiscal Services Private Limited
Investec Capital Services (India) Private Limited
Jefferies India Private Limited
JM Financial Limited
J.P. Morgan India Private Limited
Kotak Mahindra Capital Company Limited
Morgan Stanley India Private Limited
Motilal Oswal Investment Advisors Limited
Nomura Financial Advisory and Securities (India) Private Limited
SBI Capital Markets Limited
Spark Capital Advisors (India) Private Limited
Trust Investment Advisors Private Limited
UBS Securities India Private Limited
Vivro Financial Services Private Limited
YES Securities (India) Limited
Funds/ Financial Investors
Banyan Tree
Blackstone
BNP Paribas Cardif S.A.
Brookfield
Carlyle
Elevar
Everstone Capital
Eight Roads
Everfin Holdings
Equity International
Fairfax
FMO
Gateway Partners
GIC
Goldman Sachs
GTI Capital
IFIF
International Finance Corporation
IFC FIG Investment Company I
KKR
Kuwait Investment Authority
Marina III (Singapore) Pte. Limited
Maplewood
Nomura
Omega TC Sabre Holdings Pte. Ltd.
SABR India Investment Pvt Ltd.
Sarva Capital
Sequoia
Starwood
Tata Capital
Temasek
TPG
Warburg Pincus
WestBridge
Wolfensohn
Walton Street Capital
Work highlights
- Acted for Reliance Industries Limited on its issuance of $7 billion of equity.
- Acted for Housing Development Finance Corporation Limited, as issuer, on a QIP comprising an issuance of three instruments (equity shares, non–convertible debentures and warrants), a transaction valued at INR140 billion.
- Acted for ICICI Bank Limited on its QIP, which raised INR150 billion.
Cyril Amarchand Mangaldas
Led by Yash Ashar, Cyril Amarchand Mangaldas‘ Mumbai-based practice is the first port of call for major equity capital markets transactions, including IPOs, QIPs, and rights issues. The firm also has a robust financial regulatory practice which is adept at handling both contentious and non-contentious matters. Recent areas of growth include advising on high-yield bonds and InvITs. Overseas listings also feature in the caseload. Other core team members include Kranti Mohan, Gaurav Gupte and managing partner Cyril Shroff, who remains a key name to note. The team faced two notable departures in 2021, with Vivek S and Arjun Lall both leaving private practice.
Practice head(s):
Other key lawyers:
Kranti Mohan; Gaurav Gupte; Cyril Shroff; Gokul Rajan; Rohit Tiwari
Testimonials
‘Always hands-on and dependable. It’s hard to fault CAM’s capital markets practice for their rigour. With decades of experience put to work, they are easily the finest capital markets team in the market. The team is diverse and a go-to for large complex deals. I think they stand out for their ability to assess risk and manage conflicts.’
‘Yash Ashar, Gokul Rajan and Rohit Tiwari are a solid team of lawyers and safe pairs of hands on deals.’
Key clients
Gland Pharma Limited
Morgan Stanley India Company Private Limited, BofA Securities India Limited
Citigroup Global Markets India Private Limited
HSBC Securities and Capital Markets (India)
Indigo Paints Limited
Burger King India Limited and QSR Asia Pte. Ltd.
Kotak Mahindra Bank Limited
Avenue Supermarts Limited
Kotak Mahindra Capital Company Limited
Bandhan Financial Holdings Limited
Citigroup Global Markets India Private Limited (Citigroup) and Edelweiss Securities Limited (Edelweiss)
Standard Life (Mauritius Holdings) 2006 Limited
Standard Chartered Bank
JSW Steel Limited and Periama Holdings, LLC
Work highlights
- Acted as the Indian legal counsel to Gland Pharma and certain selling shareholders in connection with the IPO of Gland Pharma.
- Acting as Indian legal counsel to the lead managers for the initial public offering of the units of Brookfield India Real Estate Trust consisting of a fresh issue of units aggregating up to INR 38,000 million.
- Acted as the legal counsel to Computer Age Management Services Limited as to Indian law for an IPO of 18,246,600 equity shares by way of an offer for sale by NSE Investments Limited for cash at a price of INR 1,230 per equity share.
IndusLaw
IndusLaw‘s practice remains a market leader for big-ticket transactions, particularly industry-first tech IPOs, including advising on the IPO of online food delivery unicorn Zomato. In Mumbai, practice head Manan Lahoty is active in the domestic and international capital markets scene and focuses on assisting with public offerings and advising on securities law for major investment banks and corporate clients. Manshoor Nazki is a key contact for equity and debt offerings. Delhi-based Vishal Yaduvanshi is experienced in handling equity capital markets matters for underwriters and issuers. The team is backed by a strong group of experienced associates, including Priyadarshini Rao in the Mumbai office, who advises on SEBI and ESOP regulations.
Practice head(s):
Other key lawyers:
Key clients
Yes Bank
UpHealth
Burger King
Hindustan Petroleum Corporation
Macrotech Developers Limited
MTAR Technologies
Apollo Hospitals
Canara Bank
IDBI Bank
Affle
Clean Science and Technology Limited
Fincare SFB
Car Trade
Shyam Metalics
Zomato
Rolex Rings
Seven Islands Shipping
Supriya Lifesciences
Krsnaa Diagnostics
Tatva Chintan
Utkarsh SFB
Shriram Properties
Jana SFB
Work highlights
- Acted as Indian counsel to the lead managers on the further public offering of YES Bank Limited.
- Acted as Indian counsel to the lead managers on the IPO of online food delivery company Zomato.
- Acted as Indian counsel to Glocal in relation to its acquisition by Uphealth Holdings Inc.
J Sagar Associates
J Sagar Associates‘ capital markets team expanded in June 2020, with Madhurima Mukherjee and her team, including partner Niruphama Ramakrishnan, joining the Gurugram office from AZB & Partners. The group advises on equity capital markets transactions on the underwriter side as well as debt capital markets matters, and has seen an increase in instructions relating to public InvITs. The team also handles SEBI registrations. In Mumbai, Arka Mookerjee has over a decade of expertise in IPOs, QIPs and convertible bonds, whilst Dina Wadia leads the debts capital markets group, and Uttara Kolhatkar covers the full range of capital markets transactions. Rohitashwa Prasad is also a key contact in Gurugram.
Practice head(s):
Arka Mookerjee; Dina Wadia; Madhurima Mukherjee; Rohitashwa Prasad
Other key lawyers:
Testimonials
‘Good team with knowledge of InvIT regulations.’
‘Madhurima Mukherjee and Niruphama Ramakrishnan are well versed in SEBI issues with respect to InvITs.’
Key clients
Rossari Biotech Limited
Route Mobile
Laxmi Organics India Limited
Craftsman Automation Limited
The Phoenix Mills Limited
National Commodities and Derivative Exchange Limited
Alembic Pharmaceuticals Limited
Shriram Transport and Finance Company Limited
IDFC FIRST Bank Limited
Dilip Buildcon Limited
One Mobikwik Systems Private Limited
National Highways Authority of India
Power Grid Corporation of India Limited
Cerestra Advisors Private Limited
Affle India Limited
GR Infra Limited
Antony Waste Handling Cell Limited
Century Metal Restructuring
Railtel India Limited
Export-Import Bank of India
REC Limited
State Bank of India
Power Finance Corporation Limited
ICICI Securities Limited
Axis Capital Limited
Citi Group Capital Market Limited
IIFL Securities Limited
JM Financial Limited
SBI Capital Markets Limited
Shyam Metalics and Energy Limited
Sundaram Finance Holdings Limited
Work highlights
- Advised Axis Capital Limited and ICICI Securities Limited in relation to the recently concluded initial public offering of Rossari Biotech Limited.
- Advised on the qualified institutions placement of equity shares by the Phoenix Mills Limited with CLSA India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited acting as the lead managers to the issue.
- Advised ICICI Securities Limited, BNP Paribas, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J. P. Morgan India Private Limited, Axis Capital Limited and SBI Capital Markets Limited in relation to the INR14.9bn rights issue by STFC Limited.
Khaitan & Co
Khaitan & Co LLP‘s capital markets practice is led by Sudhir Bassi and has an excellent track record of handling IPOs, QIPs, and rights issuances, as well as REIT-related matters. The group is regularly instructed by marquee clients on IPOs in the real estate and infrastructure sectors. Manisha Shroff, who advises on the full range of debt capital markets matters, Madhur Kohli, Abhimanyu Bhattacharya and Aditya Cheriyan are also notable members of the team. Soumya Mohapatra, who has over a decade of experience in capital markets transactions, was promoted to the partnership in April 2021.
Practice head(s):
Other key lawyers:
Manisha Shroff; Madhur Kohli; Abhimanyu Bhattacharya; Aditya Cheriyan; Soumya Mohapatra
Key clients
Angel Broking Limited
BNP Paribas
Citigroup Global Markets Limited
Credit Suisse (Hong Kong) Limited
Deutsche Bank AG, Singapore Branch
Dhanlaxmi Bank Limited
Digital Fibre Infrastructure Trust and Reliance Group
EIH Limited
Gland Pharma Limited
Happiest Minds Technologies Limited
HDFC Bank Limited
Hindustan Zinc Limited
ICICI Securities Limited
IIFL Finance Limited (formerly known as IIFL Holdings Limited)
Indiabulls Housing Finance Limited
Indian Railway Finance Corporation Limited
Inox Wind Infrastructure Services Limited
JM Financial Products Limited
JP Morgan Bank
JSW Steel Limited
K Raheja Corp Investment Managers LLP (Investment Manager of Mindspace Business Parks REIT)
Kotak Mahindra Bank Limited
Life Insurance Corporation of India
Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Limited
Mashreq Bank
Mizuho Securities Asia Limited
Muthoot Finance Limited
Muthoot Fincorp Limited
Oaktree Capital Management L.P
Phoenix Mills Limited
Reliance Industries Limited
SBI Capital Markets Limited
Standard Chartered Bank
State Bank of India
Tata Power Renewable Energy Limited
Tower Infrastructure Trust and ICICI Securities Limited
TVS Credit Services Limited
Union Bank of India
Vedanta Holding Mauritius II Limited
Vedanta Limited
V-Mart Retail Limited
Zydus Wellness Limited
Work highlights
- Advised the managers on the rights issue of equity shares aggregating to INR 5,31,24.20 million by Reliance Industries Limited.
- Advised Mahindra & Mahindra Financial Services Limited on its rights issue of equity shares.
- Advised on the initial offer by Digital Fibre Infrastructure Trust of 1,470,600,000 units by way of a private placement of its units at a price of INR 100 per unit, aggregating up to INR 147,060 million.
S&R Associates
S&R Associates‘ ‘sharp, focused, and technically very sound’ team is well regarded for its domestic and international capital markets expertise. Sandip Bhagat, Juhi Singh and Vinkatesh Vijayaraghava are key contacts in the team, advising on IPOs, QIPs, FCCBs, and REITs. Advising on FUTP regulations is also an area of strength for the group. Jabarati Chandra and Jitesh Shahani focus on debt capital markets transactions, private placements, and convertible bonds. Clients include international issuers, investment banks, and investment funds.
Practice head(s):
Other key lawyers:
Juhi Singh; Vinkatesh Vijayaraghava; Jabarati Chandra; Jitesh Shahani
Testimonials
‘S & R’s capital markets team is very sharp, focused and technically very sound, helping clients like us to feel secure.’
‘Jabarati Chandra is a pure professional and a class apart from many in the profession thanks to her manner of dealing with clients: she has a helpful nature and yet is firm on her opinion to make sure that the client’s interests are at the forefront.’
‘The firm stands out for its people and their ability to understand the situation and find solutions.’
Work highlights
Shardul Amarchand Mangaldas & Co
Shardul Amarchand Mangaldas & Co‘s capital markets team remains a market leader, and has a track record of advising major clients on big-ticket debt and equity matters, including IPOs, QIPs, FCCBs, and listings of InvITs and REITs. National group head Prashant Gupta advises issuers and underwriters on large transactional mandates; he is supported by key partners Nikhil Naredi, who advises investment banks on equity offerings, Shubhangi Garg, who has expertise in financing and regulatory matters, and Manjari Tyagi. The team also advises on cross-border IPOs, foreign currency bonds, and restructuring matters.
Practice head(s):
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Work highlights
L&L Partners Law Offices
L&L Partners Law Offices has over a decade of experience handling large domestic capital markets transactions for Indian corporates and investment groups. Geeta Dhania is the main point of contact and has notable expertise in international debt offerings and private placements. The firm faced several significant exits in July 2021 with co-founder Mohit Saraf and his team, including managing associate Murtaza Zoomkawala, departing to found Saraf and Partners.
Practice head(s):
Key clients
Stovekraft Limited
Info Edge (India) Limited
Indiabulls Housing Finance Limited
Bharat Dynamics Limited
CA Lotus Investments (the Carlyle Group)
RBL Bank Limited
Dhani Services Limited (formerly Indiabulls Ventures Limited)
Adani Electricity Mumbai Limited
Adani Ports and Special Economic Zone Limited
Adani International Container Terminal Private Limited
Work highlights
- Acted as Indian legal counsel to Info Edge (India) Limited on its qualified institutions placement of its equity shares.
- Acted as the lead managers’ Indian legal counsel on the qualified institutions placement of its equity shares by Indiabulls Housing Finance Limited.
- Advised CA Lotus Investments, an investment vehicle of the Carlyle Group, on its sale of 13.06% of the outstanding share capital of Metropolis Healthcare Limited.
Trilegal
At Trilegal, the well-regarded capital markets team strengthened its bench with the addition of Richa Choudhary from AZB & Partners in February 2021. The group advises banks, underwriters, and large multinationals on the issuance of equity and debt offerings, including IPOs and FCCBs. Practice head Bhakta Patnaik is noted for his expertise in IPOs and QIPs, whilst the key contact for advising underwriters on transactional matters is associate Brajendu Bhaskar. Another notable team member is associate Albin Thomas, who has sector strength in real estate, energy, infrastructure, and pharmaceuticals.
Practice head(s):
Other key lawyers:
Key clients
International Finance Corporation
Pfaudler Inc.
Mold-Tek Packaging Limited
Department of Investment and Public Asset Management, Government of India
HCL Technologies Limited
Ashok Leyland Limited
Aurobindo Realty & Infrastructure Private Limited
Asia Real Estate II India Opportunity Fund
Kotak Mahindra Capital Company Limited
Axis Capital Limited
Jefferies India Private Limited
SBI Capital Markets,
ICICI Securities Limited
BNP Paribas
BOB Capital Markets
HSBC Securities
JM Financial
Citigroup Global Markets India Private Limited
Edelweiss Financial Services
Nomura Financial Advisory and Securities (India)
Credit Suisse Securities (India) Private Limited
J.P Morgan India Private Limited
BofA Securities India Limited
Work highlights
- Advised the book running lead managers on the Indian law aspects in connection with the initial public offer of equity shares of Sona BLW Precision Forgings Limited.
- Represented HCL Technologies Limited on the offering of $500 million 1.375% senior notes due 2026 by HCL America Inc., which are guaranteed by HCL Technologies Limited.
- Represented the President of India (acting through the Department of Defence Production, Ministry of Defence, Government of India) in connection with the offer for sale of equity shares of Hindustan Aeronautics Limited, through the stock exchange mechanism.
ZBA
ZBA excels in debt capital markets matters and has a track record of acting on large cross-border transactions, including across Southeast Asian jurisdictions and the UK. Headed by Niloufer Lam, the group counts major Indian corporates operating in the renewable energy, oil, and banking sectors as key clients. In a recent highlight, the practice advised on a multimillion-dollar bond issuance for a major oil company. Other key names in the team include Mihir Shukla and Anuttam Mahapatra.
Practice head(s):
Other key lawyers:
Testimonials
‘Niloufer Lam is a very senior and experienced lawyer. She is uniquely positioned to advise on cross-border transactions as she is a qualified English counsel and an expert on Indian law and regulatory affairs.’
‘The team stands out for the personal attention paid by the senior partner to the transactions and client relationships.’
Key clients
Indian Oil
L&T Financial Services
ICICI Prudential
Power Finance Corporation Limited
National Thermal Power Corporation (NTPC)
Oil and Natural Gas Corporation
Indian Railway Finance Corporation
Hindustan Petroleum Corporation Limited
Bharat Petroleum Corporation Limited
Tata Power
REC Limited
Work highlights
- Advised and drafted all legal documents for all REC Limited’s domestic Rupee bond issuances, aggregating 11 issuances for the financial year 2020/2021, aggregating to Rs. 42,700 crores (approximately $5.9bn) in total.
- Advised Indian Railway Finance Corporation on its $1bn Rule 144A foreign currency notes issuance in 2020 which was sold to US, European and other global investors.
- Advised ICICI Prudential Life Insurance Company on its debut issuance of domestic bonds (Rs. 1200 crore (approximately $180m) unsecured, subordinated, listed, rated, non-convertible debentures).
ALMT Legal
ALMT Legal‘s capital markets team advises on IPOs and OFS transactions and is noted for acting for bank clients on private placements. In Bangalore, practice heads S.R. Arun and Rajat Bopaiah have experience in various capital markets transactions and advise on international listings on the LSE, AIM and ASX. Souvik Paul Mazumdar is also noted. Sameer Tapia is the key contact in Mumbai.
Practice head(s):
Other key lawyers:
Testimonials
‘An excellent team.’
Key clients
BOB Capital Markets Limited, Karvy Investor Services Limited and PNB Investment Services Limited
Canara Bank
Karvy Financial Services Limited
Safari Industries (India) Limited
Virtusa Consulting Services Private Limited
Work highlights
- Advising Canara Bank on a series of private placements of Tier 1 bonds.
Bharucha & Partners
Bharucha & Partners’ capital markets practice is overseen by Alka Bharucha, with key team members including Vishnu Dutt and Ajai Achuthan. The group handles private placements, IPOs, and SEBI registrations. Disputes before the SEBI and the Securities Appellate Tribunal also feature in the caseload; litigator Sneha Jaisingh is the key contact here. She is supported by associate Mehul Jain.
Practice head(s):
Other key lawyers:
Testimonials
‘Their way of listening to their clients, understanding their needs and providing proper and true advice is what makes them stand out from competitors. They are not just focused on commercial business in the market, they value their clients.’
‘They provide proper guidance and are very well versed in the law. One can truly depend on them.’
‘The team has a highly proactive, client-centric approach, and is very approachable at all levels. The team very readily adapted to the lockdown conditions and collaboration moved to online meetings and discussions seamlessly.’
‘Mehul Jain brings a very diligent, proactive, pre-emptive approach to matters.’
Key clients
Edelweiss Group
Nidhi Granites Limited
Aditya Birla Group
Avantha Holding Limited
ITC Limited
Dakshin Mercantile Private Limited
Diageo Plc.
Aurum Platz IT Private Limited
Brahmayya & Co.
Axis Mutual Fund
RPP Infra Projects Limited
Work highlights
- Advised Edelweiss Finvest Limited on its issue of principal protected, rated, secured, redeemable, listed market-linked debentures to the debenture holders subscribed in one or more tranches each in aggregate principal amount of INR550 million.
- Representing Diageo Plc in an appeal that was filed before the Securities Appellate Tribunal and the SEBI against an order issued by the SEBI.
- Representing Gautam Thapar, Avantha Holdings Limited, Solaris Industrial Chemicals Ltd and V. R. Venkatesh, Madhav Acharya and B. Hariharan in various proceedings in connection with the alleged fraud in CG Power before the SEBI, the Securities Appellate Tribunal, the Ministry of Corporate Affairs, the National Company Law Tribunal, the Bombay High Court and the Delhi High Court.
SNG & PARTNERS
SNG & PARTNERS’ New Delhi-based capital markets practice advises underwriters and issuers on domestic and cross-border offerings. Practice co-head Amit Aggarwal is active in the equity and debt capital markets spaces, advising clients operating across the real estate, private banking, and rail sectors. Co-head Saroj Kumar Pandey is the name to note for inbound and outbound transactions for international funds. The group also advises on SEBI regulations.
Practice head(s):
Key clients
Standard Chartered Bank
Kotak Mahindra Bank Ltd.
HDFC Capital Advisors Ltd.
HDFC Asset Management Company Ltd.
SBICAP Ventures Ltd.
Work highlights
- Advised Standard Chartered Bank on the drafting of transaction documents and security documents pertaining to the issue of non-convertible debentures.
- Advised on the drafting of transaction documents and security documents pertaining to the issue of non-convertible debentures for Kotak Mahindra Bank Limited.
- Advised HDFC Asset Management Company Limited on the drafting of transaction documents and security documents pertaining to the issue of non-convertible debentures.
Dhir & Dhir Associates
Dhir & Dhir Associates has a focus on debt capital markets, equity capital markets and investment funds, and is based out of New Delhi. The group acts for underwriters, investment banks, and investors on offerings by Indian issuers. Key contact Girish Rawat left the firm to join L&L Partners Law Offices' banking team in March 2021.
Kanga & Company Advocates and Solicitors
Kanga & Company Advocates and Solicitors is housed in Mumbai and handles capital markets transactions including public offerings for a range of clients, with expertise in the construction, pharmaceuticals, and engineering sectors.
Rajani Associates
Rajani Associates is based out of Mumbai and has experience handling debt issuances and IPOs for clients across a range of industries, including hospitality and IT. Sangeeta Lakhi advises corporate clients on matters including structured finance and QIPs.
Practice head(s):
Tatva Legal
The capital markets group at Bangalore-based Tatva Legal is led by Dilip N.K and is instructed by investor clients on private equity transactions. Co-founder Manav Nagaraj left the partnership to join Shardul Amarchand Mangaldas & Co in May 2021.
Practice head(s):