Rachna Talati

Rachna’s recent experience includes advising:

• ICICI Securities, Axis Capital, HSBC, IDBI Capital, Motilal Oswal, and SBI Capital Markets, in connection with the US$460 million initial public offering of equity shares of National Securities Depository Limited (NSDL). This is the largest IPO of a market infrastructure institution in India and marks the public debut of a key pillar of India’s capital markets ecosystem.
• Kotak Mahindra, Citigroup, HSBC, J.P. Morgan, and Morgan Stanley in connection with the US$3.3 billion initial public offering of equity shares by Hyundai Motor India Limited. This is the largest Indian IPO to date.
• ICICI Securities, Axis Capital, IIFL Securities and Emkay Global Financial Services in connection with the US$72 million initial public offering of equity shares by Awfis Space Solutions Limited.
• Axis Capital, BNP Paribas and Nuvama in connection with the US$150 million initial public offering of equity shares by Carraro India Limited.
• ICICI Securities, Citigroup, Kotak Mahindra, Nomura and SBI Capital Markets in connection with the US$360 million initial public offering of equity shares by Aadhar Housing Finance Limited.
• ICICI Securities, BNP Paribas, Equirus Capital and JM Financial in connection with the US$131 million initial public offering of equity shares by Fedbank Financial Services Limited.
• Axis Capital, Citigroup, HSBC and JM Financial in connection with the US$236 million initial public offering of equity shares by R R Kabel Limited.
• ICICI Securities in connection with the US$130 million rights offering of equity shares by Piramal Pharma Limited.
• Kotak Mahindra, Avendus Capital and Elara Capital in connection with the US$415 million qualified institutions placement of units by Brookfield India Real Estate Trust. This is the only QIP by an Indian REIT in 2024, and it marks the first REIT investment in India from the World Bank member International Finance Corporation and the Life Insurance Corporation of India.
• BofA Securities, Morgan Stanley, Kotak Mahindra, Citigroup, Axis Capital, Jefferies, JM Financial, SBI Capital Markets, IIFL Securities, BOB Capital and ICICI Securities in connection with the US$280 million qualified institutions placement of units by Brookfield India Real Estate Trust.
• Kotak Mahindra, Axis Capital, BofA Securities, and J.P. Morgan in connection with the US$377 million qualified institutions placement of units by The Federal Bank Limited.
• ICICI Securities, Kotak Mahindra, J.P. Morgan, IIFL Securities and Jefferies in connection with the US$181 million initial public offering of equity shares by Kfin Technologies Limited.
• JM Financial, BofA Securities, CLSA and Kotak Mahindra in connection with the US$188 million initial public offering of equity shares by Campus Activewear Limited.
• Axis Capital, IIFL Securities, Nuvama, and SBI Capital Markets in connection with the US$140 million initial public offering of equity shares by Medi Assist Healthcare Services Limited.
• Axis Capital, ICICI Securities, JM Financial and SBI Capital Markets in connection with the US$185 million initial public offering of equity shares by Paradeep Phosphates Limited.
• Axis Capital, ICICI Securities and Nomura in connection with the US$80 million initial public offering of equity shares by Shriram Properties Limited.
• ICICI Securities, Axis Capital, Credit Suisse, IIFL Securities, Ambit Capital, BOB Capital, HDFC Bank, IndusInd Bank, and YES Securities in connection with the US$520 million initial public offering of equity shares by Chemplast Sanmar Limited.
• Axis Capital and JM Financial in connection with the US$40 million rights offering of equity shares by Shoppers Stop Limited.
• Barclays, Citigroup, DBS Bank, MUFG, and Standard Chartered in connection with the issuance of US$300 million 3.00% Senior Secured Notes due 2031 by Adani International Contain Terminal Private Limited.
• Kotak Mahindra, Axis Capital, BNP Paribas, Citigroup, HDFC Bank, HSBC, ICICI Securities, Nomura, and SBI Capital Markets in connection with the US$410 million rights offering of equity shares by Mahindra & Mahindra Financial Services Limited.
• Reliance Industries Limited in connection with its US$7 billion rights offering of equity shares underwritten by JM Financial, Kotak Mahindra, Axis Capital, BNP Paribas, DSP Merrill Lynch, Citigroup, Goldman Sachs, HDFC Bank, HSBC, ICICI Securities, IDFC Securities, J.P. Morgan, Morgan Stanley, SBI Capital Markets. Named “Equity Market Deal of the Year (Premium)” 2021 by Asian Legal Business India Law Awards, “Best of South Asia Deal” 2020 by FinanceAsia, and “Deal of the Year” 2020 by India Business Law Journal.
• CA Swift Investments, Carlyle Group’s investment entity, as seller, in connection with a block trade of certain equity shares of Delhivery Limited.
• Anant Investments, an affiliate of Carlyle Group, as the selling shareholder in connection with its exit through the US$60 million initial public offering of equity shares by Global Health Limited.
• Certain selling shareholders in connection with their exit through the US$93 million initial public offering of equity shares by Northern Arc Capital Limited.

The above matters were handled prior to joining Sidley.