Madhurima Mukherjee

Madhurima has more than 20 years of experience in securities offerings in the domestic and international markets including initial public offering, further offers, rights offer, qualified institutions placement, InVITs, block trades.

Often referred to as the “queen of capital markets“, she has been part of some of the most high-profile capital raising efforts in the country, including the Coal India Initial Public Offering (IPO) in 2010. Coal India eventually raised INR 15,199 crore (over US$ 2.5 billion), which remains India’s one of the largest IPO so far.

Madhurima has strong business acumen and is oriented in approach. She heads the Capital Markets division at JSA. Before joining JSA, Madhurima was a Senior Partner at AZB & Partners, until April 2020. She has also worked with Luthra & Luthra as National Head and Partner until 2013 and Erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co, as Partner until 2006.

Madhurima has smoothly transitioned the AZB team to JSA.

Madhurima is also inclined towards academia and is a visiting mentor at The West Bengal National University of Juridical Sciences and National Law School, New Delhi.

• Acted as the domestic counsel to the lead managers in relation to the QIP by Axis Bank, with a placement of approximately INR 47, 260 million, the issue is one of the largest QIPs in India till date.
• Acted as the counsel to DLF in relation to the institutional placement program by DLF, the largest IPP till date. The lead managers were Standard Chartered, Deutsche, Merrill, J.P. Morgan, CLSA, HSBC, Kotak, UBS and IIFL. The deal value of the placement was approximately INR 18,634.24 million.
• Advised Petronas International in the divestment of its stake in Cairn India on a ‘bulk deal’ basis, which at a deal value of USD 2.1 billion is one of the largest bulk deal transactions in India till date.
• Advised Government of India in the stake sale in ONGC through the “Offer for sale through the Stock Exchanges” mechanism, the first transaction of its kind after SEBI introduced this mechanism.
• Acted as the counsel to the company in the QIP of equity shares and FCCB issuance by Bharti Airtel Limited.
• Advised the underwriters in listing of the units of the Religare Health Trust on the Singapore Stock Exchange and in the initial public offering of Amira Foods in the United States and listing on the New York Stock Exchange and in the institutional placement programmes of DLF and Fortis.

• BA, LLB (Hons), National Law School of India University, Bangalore, India: 1997
• Enrolled as an Advocate with the Bar Council of Delhi: 1998