Ranking tables
Capital Markets | Asia-Pacific
Indonesia
Rankings overview for Departments
Armand Yapsunto Muharamsyah & Partners 7 Years Ranked- TnP Law Firm
- Tumbuan & Partners
- Widyawan & Partners (in association with Linklaters)
ABNR Counsellors at Law 16 Years Ranked
Dentons HPRP 1 Years Ranked
Santoso, Martinus & Muliawan Advocates 3 Years Ranked
UMBRA 2 Years Ranked- IMCOLaw
- William Hendrik & Siregar Djojonegoro
Yozua Makes Makes & Partners19 Years Ranked- Ahmad Fikri AssegafAssegaf Hamzah & Partners
- Melli DarsaPwC Legal Indonesia
Iqbal Darmawan HHP Law Firm13 Years Ranked
Iwan Setiawan Makes & Partners19 Years Ranked- Putu SuryastutiAssegaf Hamzah & Partners
Kristo Molina ALTA Advocates13 Years Ranked
Mohammad Andrew Ginting & Reksodiputro in association with A&O Shearman7 Years Ranked
Tjahjadi Bunjamin Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer19 Years Ranked
Viska Kharisma Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer7 Years Ranked- Adrian PranataWidyawan & Partners (in association with Linklaters)
- Rambun TjajoTnP Law Firm
Arie Armand Armand Yapsunto Muharamsyah & Partners10 Years Ranked
Dandy Firmansyah Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills Kramer3 Years Ranked- Hendrik SilalahiWilliam Hendrik & Siregar Djojonegoro
- Imran MuntazIMCOLaw
- Intan ParamitaAssegaf Hamzah & Partners
- Jennifer TumbuanTumbuan & Partners
- Ken PrasadtyoTnP Law Firm
- Mohammad Renaldi ZulkarnainAssegaf Hamzah & Partners
All Departments profiles
Band 1

1 Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills KramerCapital Markets2026 | Band 1 | 18 Years RankedHiswara Bunjamin & Tandjung has a respected capital markets law practice in Indonesia, receiving frequent instructions from global investment banks on bond offerings, as well as handling IPOs for international and Indonesian clients. The team is well versed in Regulation S and Rule 144A issuances and offers significant cross-border capability through its Herbert Smith Freehills Kramer association. The group is able to draw on expertise in sectors such as energy, financial services, consumer goods and TMT.

1 Makes & PartnersCapital Markets2026 | Band 1 | 19 Years RankedMakes & Partners is a premier capital markets law group, predominantly acting for leading Indonesian corporates on both debt and equity offerings. The team regularly handles big-ticket IPOs, rights issues and bond offerings, advising clients from numerous sectors including real estate and telecoms. The firm's senior lawyers are recognised by commentators for their longstanding experience and Indonesian market connections.
Band 2

2 Ginting & Reksodiputro in association with A&O ShearmanCapital Markets2026 | Band 2 | 15 Years RankedLeveraging its association with A&O Shearman, Ginting & Reksodiputro offers strong legal expertise in both Indonesian and overseas debt and equity issues. The team handles a range of high-yield bond offerings as well as rights issuances. The firm acts for both banks and issuers, counting leading global financial institutions, Indonesian corporates and government entities among its clientele. The department handles capital markets deals in sectors such as energy, telecoms and finance.

2 HHP Law FirmCapital Markets2026 | Band 2 | 19 Years RankedHHP Law Firm is a highly respected law firm in Indonesia, equally proficient in debt and equity offerings, advising on IPOs, rights issues, bonds and securities, with significant Regulation S and Rule 144A expertise. The team assists both issuers and banks, including multinational and domestic clients, with impressive international reach thanks to its Baker McKenzie connection. The firm is frequently involved in transactions in the natural resources, finance and telecoms sectors.
Band 3

3 Armand Yapsunto Muharamsyah & PartnersCapital Markets2026 | Band 3 | 7 Years RankedArmand Yapsunto Muharamsyah & Partners has a recognised presence in Indonesia's capital markets arena. The lawyers advise clients on equity capital markets including rights issuances, share offerings and private placements. The team is experienced acting as issuers' and underwriters' counsel.
Band 4

4 ABNR Counsellors at LawCapital Markets2026 | Band 4 | 16 Years RankedABNR Counsellors at Law offers an active capital markets practice in Indonesia, advising both underwriters and issuers on global and local equity and debt capital markets issuances. The firm regularly represents international banks and major domestic state-owned corporations.

4 Dentons HPRPCapital Markets2026 | Band 4 | 1 Years RankedDentons HPRP is widely acclaimed for its adept handling of IPO, bonds and sukuk issuances, rights issues, and shelf-registered public offerings, among others. It regularly advises prominent domestic banks and international clients on capital market transactions from its Jakarta office.

4 Santoso, Martinus & Muliawan AdvocatesCapital Markets2026 | Band 4 | 3 Years RankedSantoso, Martinus & Muliawan Advocates in Jakarta has a well-regarded team of lawyers focussed on capital markets transactions. The lawyers often handle IPO deals, acting both for financiers and issuers, as well as public M&A and global depository receipt offerings.

4 UMBRACapital Markets2026 | Band 4 | 2 Years RankedUMBRA is well placed to advise clients on a range of capital markets issues such as IPOs, convertible bonds and take-private transactions. The firm counts prominent Indonesian banks, energy companies and state-owned enterprises among its clientele.

