Capital markets in India

AZB & Partners

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.

Practice head(s):

Varoon Chandra


‘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


BNP Paribas Cardif S.A.




Everstone Capital

Eight Roads

Everfin Holdings

Equity International



Gateway Partners


Goldman Sachs

GTI Capital


International Finance Corporation

IFC FIG Investment Company I


Kuwait Investment Authority

Marina III (Singapore) Pte. Limited



Omega TC Sabre Holdings Pte. Ltd.

SABR India Investment Pvt Ltd.

Sarva Capital



Tata Capital



Warburg Pincus



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):

Yash Ashar


‘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‘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):

Manan Lahoty

Key clients

Yes Bank


Burger King

Hindustan Petroleum Corporation

Macrotech Developers Limited

MTAR Technologies

Apollo Hospitals

Canara Bank



Clean Science and Technology Limited

Fincare SFB

Car Trade

Shyam Metalics


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.


‘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):

Sudhir Bassi

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 BhagatJuhi 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):

Sandip Bhagat


‘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):

    Prashant Gupta

    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):

      Rajiv LuthraGeeta Dhania

      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.


      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):

      Bhakta Patnaik

      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 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):

      Niloufer Lam

      Other key lawyers:

      Mihir Shukla; Anuttam Mahapatra


      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):

      SR ArunRajat Bopaiah


      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):

      Alka Bharucha


      ‘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’ 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.

      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):

      Sangeeta Lakhi

      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):

      Dilip N.K.