Our capital markets experience encompasses a wide range of securities offerings, including IPOs, QIPs, FPOs, IPPs, rights offerings, offer for sale on the stock exchanges, debt offerings, ADR and GDR offerings and other overseas listings of Indian businesses.
Recognized by Chambers Asia Pacific 2013 in Band I and by IFLR 1000 in Tier I for capital markets, according to Chambers Asia Pacific 2013, our capital markets team “is well aware of commercial issues - their research on the subject really helps us when we're dealing with new bankers who may not have the full background”. Manan Lahoty, Partner, is recommended by Legal 500 and recognized by Asialaw Leading Lawyers 2013 as one of India’s leading capital market lawyers. According to Chambers Asia Pacific 2013, Mr. Lahoty “understands business issues spectacularly well, is able to connect with clients, and remains forthright when acting on their behalf”. In a growing capital markets characterized by rapid change and innovation, with our wealth of experience and interaction with listing authorities and regulators, our team understands regulatory expectations and has expertise in developing unique structures for specific clients needs.
Our Capital Markets team has advised companies in diverse sectors, domestic and international investment banks, governments and other entities, in some of the largest and most prestigious capital markets transactions in India. We advised on the US$3.4 billion IPO of Coal India, the largest IPO in India; the US$2.0 billion IPO of DLF, the third largest IPO in India; the US$0.88 billion QIP by Axis Bank, the largest such placement in India; the sale by Government of India of its stake in ONGC through the stock exchange mechanism, the first transaction of its kind, and on the IPP by DLF, the largest IPP in India.
Among international offerings, we advised on the US$1.50 billion ADR issue by Sterlite Industries, the listing of Ascendas India Trust and Religare Health Trust on the Singapore Stock Exchange, and the listing of Amira Foods on the New York Stock Exchange. We also have significant experience advising on offerings of debt securities. We advised Cairn India and DLF in relation to private placement of debentures, Noida Toll Bridge in the public issue of its deep discount bonds, issue of perpetual securities by Ballarpur Industries and public issue of tax free bonds by Power Finance Corporation and HUDCO.
In addition to advising on capital market offerings, our capital markets team also advices companies and market intermediaries on regulatory compliance and various corporate governance issues in relation to securities laws in India.