Capital Markets & Securities Law

We advise on equity and debt public issues and private placements and also matters of securities law. Our lawyers’ expertise in understanding the nuances of the legal and regulatory regime, and also in hearings before regulators, is recognised and appreciated. The Firm has advised and represented issuers and intermediaries on primary and secondary offerings
including initial public offers, qualified institution placements, and rights issues in the equity market as well as debt issues. In addition, the Firm has acted and is acting, on private and publicly placed debt. Our sector experience includes telecom, manufacturing, logistics, energy, banks, roads, financial technology, and non-banking financial companies. One of the Firm’s strengths is structuring and executing innovative deals and the Capital Markets and Securities Law Practice is proud to have advised on structured products and complex securities issued through private placement and otherwise. We have also advised listed companies and securities market intermediaries on registrations with the Securities and Exchange Board of India (SEBI) and matters of compliance including issues with respect to insider trading, price manipulation, and front running. In the course of our securities litigation practice, we regularly appear before SEBI and the Securities Appellate Tribunal and also in appeal before the Supreme Court of India. Our multidisciplinary ethos and frequent interaction with sector regulators and stock exchanges co-opted with the perspective gained in the course of the securities litigation practice enables us to identify potential issues and structure complex transactions efficiently and allows us to help clients successfully navigate the Indian regulatory framework.

Indicative Experience

Capital Markets

• Advising Dreamfolks Services Limited with respect to its initial public offering of equity shares aggregating over 7,500 million.

• Advising the underwriters with respect to the initial public offering of equity shares by Hexagon Nutrition Limited aggregating over 5,000 million.

• Advising the issuer and the underwriter with respect to the initial public offering of equity shares aggregating over 4,000 million by Gujarat Polysol Chemicals Limited.

• Advising the underwriters with respect to the initial public offering of equity shares by Bharat Road Network Limited aggregating over INR 6,000 million.

• Advising Idea Cellular Limited with respect to its initial public offering of equity shares aggregating 24,400 million.

• Advising the issuer as the special counsel with respect to the initial public offering of equity shares by Adlabs Entertainment Limited aggregating INR 3,745 million.

Securities Law

• Advising Greenlam Industries Limited and DAM Capital Limited with respect to the open offer to public shareholders of HG Industries under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• Representing B. Ramalinga Raju and B. Rama Raju before the Securities Appellate Tribunal with respect to the issues under the SEBI Act, 1992, the SEBI (Prohibition of Insider Trading Regulations), 1992, and the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to the Securities Market) Regulations, 2003.

• Representing Diageo plc before the Securities and Exchange Board of India and the Securities Appellate Tribunal with respect to the issues under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• Advising Ebix, Inc. and Centrum Capital Limited with respect to the open offer to public shareholders of Mumbai-based Reserve Bank of India (RBI) registered authorised dealer, Weizmann Forex Limited, under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• Advising Essel Group and ICICI Securities Limited with respect to the open offer to public shareholders of Mumbai-based non-banking financial company, LKP Finance Limited, under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• Advising ICICI Securities Limited and a number of acquirers with respect to the open offer to public shareholders of Delhi-based non-banking financial company, Intec Capital Limited, under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.