AZB & Partners handles a balanced roster of work for issuers, investment banks and private equity houses and selling shareholders, which includes IPOs, QIPs, rights issues, FCCB and ADR offerings. However, the firm truly excels in advising banking clients on novel or record breaking transactions, such as the first IPO by a foreign promoted commercial bank in India. Varoon Chandra has an expansive practice, which encompasses corporate finance,  domestic and international debt issuances and QIPs. Srinath Dasari, who specialises in corporate finance, has handled numerous IPOs for Indian companies throughout his career. Highly active practitioner Richa Choudhary advises issuers, promoters, selling shareholders and investment banks on IPOs and FPOs.

Cyril Amarchand Mangaldas' practice is particularly well known for its work in complex, novel or extremely high-value capital markets transactions, including rights issues, preferential issues, IPOs and DCM transactions. The firm's work in the burgeoning REIT and INVIT sectors is particularly notable, insofar as it involves meeting with regulators and industry participants to discuss regulatory matters in pertinent areas, such as the legal framework of depository receipts. Yash Ashar leverages his expertise in securities law to advise clients on IPOs, follow-on public offerings, FCCBs and various other equity transactions. Arjun Lall has a strong track record in market firsts, including the first sponsored ADR programme and the first formation of a REIT.

IndusLaw's practice expanded significantly in October 2019, with five partners and thirteen associates from L&L Partners Law Offices' capital markets practice joining the firm's offices in Mumbai and Delhi. Manan Lahoty specialises in public offerings and securities law, having advised numerous major corporates and financial institutions throughout his career. Vishal Yaduvanshi is well versed when it comes to assisting underwriters and issuers undergoing QIPs, rights issues, buybacks and various other equity deals. Manshoor Nazki, who previously worked in the policy division of SEBI, has notable expertise in equity and debt offerings. In a recent highlight, the firm advised the lead managers (Kotak Mahindra, IIFL Securities and JM Financial) in the $107m IPO of Ujivan Financial Services, which was over subscribed 160 times.

Khaitan & Co LLP's capital markets practice is highly active in IPOs, QIPs, issuances of debt securities, private placements and various other capital markets transactions. Sudhir Bassi is often instructed by marquee clients to advise them on IPOs, particularly in the real estate and infrastructure sectors. Manisha Shroff specialises in debt capital markets and structured finance, including international bond issuances. Abhimanyu Bhattacharya has recently advised clients undergoing IPOs, QIPs and debt restructuring agreements. Aditya Cheriyan and Madhur Kohli frequently advise clients, primarily issuers, in relation to IPOs.

Shardul Amarchand Mangaldas & Co' team advises large banks and corporates on major debt and equity offerings, including IPOs, QIPs, FCCBs, private placements and listings of InvITs and REITs. Prashant Gupta advises underwriters and issuers undergoing major debt and equity transactions. In a recent highlight, he advised a consortium of banks subscribing to Bharti Airtel's $3.5bn rights issue, representing India's largest capital markets transaction. Nikhil Naredi's ambit of work includes ADR listings, private placements, IPOs and follow-on public offerings. Shubhangi Garg has impressive credentials in debt capital markets transactions, whereas Manjari Tyagi often advises lead managers and issuers on complex, cross-border IPOs.

L&L Partners Law Offices advises issuers, selling shareholders and underwriters in relation to equity and debt transactions, including IPOs, QIPs, private placements and medium-term note programmes. Mohit Saraf has been instructed by clients to assist them with major IPOs and QIPs throughout his career, including DLF's $414m QIP and Ujivan Small Finance Bank's $97.5m IPO. Geeta Dhania has standout expertise assisting the Government of India with primary and secondary listings of public companies. The team lost Manan Lahoty and Jitesh Shahani who joined IndusLaw and S&R Associates, respectively.

ZBA is particularly well known for its expertise assisting clients with EMTN transactions and foreign and domestic bond issuances, including listings in Singapore and London. Niloufer Lam specialises in debt capital markets and frequently acts for major Indian and international clients in high value bond issuances across numerous sectors, including oil and gas and infrastructure.

Bharucha & Partners advises clients on equity and debt issuances in India, and shows notable expertise in disputes and investigations before the Securities Exchange Board of India and the Securities Appellate Tribunal. Vishnu Dutt acts for issuers and underwriters throughout the process of IPOs and rights issues and in relation to regulatory challenges. Ajai Achuthan specialises in securities law disputes governed by SEBI.

Dhir & Dhir Associates' team predominantly handles private placements and investments, displaying particular expertise in terms of dealing with compliance issues involving the SEBI. Girish Rawat's experience includes advising clients on securitisation, IPOs, QIPs, takeover deals and various other capital markets transactions. Principal associate Antik Senapati specialises in the negotiation and structuring of debt and equity transactions.