Esha Goel

Esha’s experience includes advising:

Technology

• Swiggy on its US$1.35 billion IPO on the Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited (NSE), the second-largest initial public offering (IPO) in India to date; awarded Capital Markets Deal of the Year 2024 by India Business Law Journal, Best IPO (India) at the Asset Triple A Awards for Sustainable Finance 2025, and Equity Issue of the Year at the IFR Asia Awards 2024
• PayTM (One97 Communications Limited), India’s largest payments platform, on its IPO on the NSE and BSE, at the time the largest public issue in Indian capital market history
• The lead managers on food delivery platform Zomato’s US$1.3 billion IPO on the BSE, the first such offering by an Indian tech unicorn
• The lead managers on global engineering services company Tata Technology’s US$365 million IPO
• Hexaware, on its US$1 billion IPO on the BSE and NSE, the largest-ever IT services IPO in India
• PolicyBazaar’s 58,262,397 share IPO on the NSE and BSE
• MakeMyTrip on its US$3.1 billion concurrent convertible notes and primary US registered share offerings in 2025
• WeWorks India IPO
• LG Electronics India IPO
• Tata Capital India IPO

Automotive

• Hyundai Motor India on its US$3.3 billion IPO on the BSE and NSE, the largest IPO in India to date and the second-largest IPO globally in 2024; named Equity Market Deal of the Year at the ALB India Law Awards 2025 and Capital Markets Deal of the Year 2024 by India Business Law Journal
• Ola Electric on its US$730 million IPO on the BSE and NSE; named a Highly Commended IPO: South Asia at the FinanceAsia Achievement Awards 2024
• VinFast Auto, a leading Vietnamese automotive manufacturer, on its Nasdaq listing through a business combination with Black Spade Acquisition, a special purpose acquisition company (SPAC)

Energy, Infrastructure, and Industrials

• ReNew Power, an India-based renewable energy producer, on its Nasdaq listing through a business combination with RMG Acquisition Corporation II in the first deSPAC merger globally involving independent renewable power producers
• The lead managers on Sterling and Wilson Renewable Energy’s US$180 million qualified institutional placement (QIP)
• The global coordinators and lead managers on Reliance Industries’ US$7 billion rights offering, the largest non-financial services rights offering globally for more than a decade
• Sterling and Wilson Solar Limited on its 36,935,157 equity share IPO on the NSE
• The underwriters on India Grid Trust’s 224,996,373 unit IPO on the NSE and BSE
• Vedanta on its:
  • US$400 million 8% bonds due 2023 and US$600 million 9.2% bonds due 2026
  • 6.125% bonds due 2024, offer to purchase for cash any and all of its outstanding US$774 million 6% bonds due 2019, and US$900 million 8.25% bonds due 2021
• The book running lead managers on JSW Cement’s US$410 million IPO on the NSE and BSE

REITs

• The underwriters on Nexus Select Trust’s US$391 million IPO, the first REIT public issuance in India’s retail mall sector
• Hexaware on its US$1 billion IPO on the BSE and NSE, the largest-ever IT services IPO in India

Hospitality and Consumer Goods

• SATS Limited’s tender offer and solicitation of consents to purchase for cash all of Its outstanding US$400 million 7.875% senior secured notes due 2027 and €340 million 6.375% senior secured notes due 2027
• The underwriters on Kalyan Jewellers’ 135,057,470 equity share IPO on the BSE and NSE
• The book running lead managers on Ventive Hospitality’s US$187.1 million IPO
• MakeMyTrip on its US$1.25 billion aggregate principal amount offering of 0.00% convertible senior notes due 2030, and the exercise in full by the initial purchasers of their option to purchase an additional US$187.5 million in aggregate principal amount of the notes

Financial Services

• DBS Bank, Standard Chartered Bank, and ANZ on Impact Investment Exchange’s US$12 million issuance on the Singapore Stock Exchange of the Women’s Livelihood BondTM2, the Asia-Pacific’s second multi-country gender bond to be listed on a stock exchange, creating sustainable livelihoods for 250,000+ underserved women in the region; received the 2019 UN Climate Action Award and the P4G State-of-the-Art Partnership of the Year Award
• The underwriters on HDFC Asset Management Company Limited’s 25,457,555 equity share IPO on the BSE and NSE; named Best IPO (India) by the Asset Asian Awards of the Year 2018
• The underwriters on HDFC Life Insurance Company Limited’s 299,827,818 equity share IPO on the NSE and BSE
• A consortium comprising TPG, Singapore Life, Sumitomo Life Insurance Company, and others on a transaction to combine Singapore Life with Aviva Singapore