Practice Areas
Partner (Regional Co-Head - Capital Markets - North)
Capital Markets
Vishal specialises in capital markets and has an extensive experience of over 15 years in representing both underwriters and issuers and has led domestic and international offerings of marque equity and equity-linked securities (including IPOs, QIPs, rights issue, buy backs and block deals) in a wide variety of industries.
Vishal is recognised for advising on complex matters, which have few or no precedents in terms of products or sectors of issuer, including Initial Public Offering (IPO) by Matrimony.com, the first offering by a standalone online matchmaking portal in India; IPO by CarTrade.com, the first offering by a multi channel auto trading platform in India; IPO by LemonTree Hotels, the first public offering by a pureplay hotel chain since the listings of Taj and Oberoi Group entities in early 1990s; institutional placement programme by Godrej Industries, which was introduced in 2012 by the regulator; offer for sale by promoters of DB Corp, only the second OFS transaction under the new route provided by the regulator; and advised on setting up central public sector enterprise (CPSE) exchange traded fund (ETF), first ETF of its kind for public sector enterprises.
Vishal specialises in overseas listings by Indian issuers, such as depository receipt listings, direct overseas listings through offshore structures and listing of business trusts.
In addition to advising on capital market transactions, Vishal has vast experience advising a variety of sectors and leading investment banks in India on corporate and securities law issues and on pre-offering restructuring.
Relevant Experience:
*Experience listed below include that of the Partner before he joined the Firm
• USD 1.5 billion American Depository Receipts (ADR) offering by Sterlite Industries;
• IPO by Azure Power Global on NYSE, the first offering of Indian energy assets in the United States;
• USD 250 million IPO by Honasa Consumer (Mamaearth), one of the largest digital first BPC companies
• USD 250 million IPO by Zinka Logistics (Blackbuck), one of India’s largest platform for truck operators
• USD 350 million IPO by Dr. Agarwal’s Health Care
• USD 250 million IPO by AKUMS Pharmaceuticals, one of the largest India focussed CDMOs
• USD 2.0 billion follow-on offering by Yes Bank
• USD 350 million qualified institutions placements (QIP) by Mankind Pharma
• USD 250 million rights issue by Sobha
• De-SPAC transaction of healthcare platform, UpHealth, on NYSE;
• De-SPAC transaction of data intelligence firm, Near, on NASDAQ.