•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student
other

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences

Ex-Amarchand partner brings Clifford Chance Indiabulls

indiabulls-logo
indiabulls-logo
Clifford Chance's lateral Amarchand Mangaldas hire has reaped rewards, as Rahul Guptan brought the firm the third Indiabulls Group mandate this year, acting for its underwriting bank.

Amarchand has advised the Indiabulls group companies throughout this year's fundraisings, and is understood to also be advising on the Indiabulls Power IPO that is expected to hit the market at $310m (Rs 1,500 crore).

Clifford Chance capital markets partner Guptan led the legal team for Morgan Stanley which was financial adviser to all Indiabulls fundraisings this year.

Guptan had a strong relationship with Indiabulls at Amarchand before joining the magic circle firm in Singapore one year ago.

Amarchand and Clifford Chance most recently concluded the $200m (about Rs966 crore) qualified institutional buyers (QIB) private share placement by Indiabulls Financial Services.

The Indiabulls Financial Services placements follows Indiabulls Real Estate's $550m qualified institutional placement (QIP) in May, which Amarchand and Clifford Chance also acted on.

Guptan had been at Amarchand from 1999 and was made a partner in Mumbai in 2006, before being poached by Clifford Chance in August 2008.

Amarchand managing partner Cyril Shroff had told The Lawyer at the time of Guptan's hire that international firms were building distrust at an institutional and industrial level by poaching Indian lawyers.

Nevertheless, he added that Amarchand would continue working with Clifford Chance. "For us it is business as usual as our second level is strong with capital markets partners Yash Ashar and Arjun Lall filling in for Rahul," he said.

Ashar is understood to be closely involved in Amarchand's current Indiabulls relationship.

Amarchand and Clifford Chance both declined to comment.

Click to show 9 comments
at your own risk
(alt+c)
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.

Latest comments