Rajiv Gupta heads Latham’s India Practice and advises Indian companies and global clients doing business in India on a full range of corporate and finance transactions. He draws on more than two decades of experience advising on capital markets transactions.

Rajiv brings an unusual combination of skills to advise both issuers and underwriters on a full range of capital markets transactions, including:

  • US IPOs and SEC-registered transactions
  • Indian IPOs
  • High-yield bonds
  • Convertible securities

He has developed a preeminent India practice advising on hundreds of complex, high-profile, and precedent-setting capital markets transactions.

Rajiv also leverages Latham’s global platform to help clients navigate a full range of complex or cross-border corporate transactions, including:

  • Mergers and acquisitions
  • Private equity
  • Restructuring
  • Leveraged finance

Rajiv served as an appointed member of the Securities and Exchange Board of India (SEBI) Advisory Committee. A native Hindi speaker, Rajiv has been educated in India, the US, and the UK, and has practiced in New York, Hong Kong, and Singapore, so brings a global perspective to clients’ transactions.

He regularly speaks on capital markets and corporate transactions at key industry conferences, including the Indian Banks’ Association’s conference.

Rajiv’s pro bono work includes advising on the innovative Women’s Livelihood Bond series, sponsored by the Impact Investment Exchange. 

Rajiv’s experience includes advising:

Indian IPOs and QIPs

Rajiv has advised issuers or underwriters on hundreds of IPOs in India, including:

  • Blackstone-backed Horizon Industrial Parks 
  • Shiprocket
  • Dhoot Transmission
  • Manipal Health Enterprises – this transaction is India’s largest healthcare IPO to date
  • CleanMax
  • Fractal Analytics – this transaction is India’s first AI IPO
  • Meesho
  • Tenneco Clean Air India
  • Physics Wallah – this transaction is the first-ever Indian IPO in the edtech sector
  • Pine Labs
  • Billionbrains Garage Ventures (Groww) – this transaction is one of the largest listings in India in 2025, and it was awarded Best Fintech IPO (India) at The Asset Triple A Awards for Sustainable Finance 2026
  • LG Electronics India – this transaction represents the third-largest IPO in India in 2025 and the largest consumer durables IPO ever in India, and it was awarded Best IPO (India) at The Asset Triple A Awards for Sustainable Finance 2026 and India Capital Markets Deal of the Year at the IFR Asia Awards 2025
  • Tata Capital – this transaction marks the largest IPO in India in 2025 and the largest-ever IPO by an Indian non-banking financial company, and it was awarded Capital Markets Deal of the Year by India Business Law Journal’s Deals of the Year Awards 2025
  • WeWork India
  • JSW Cement
  • Travel Food Services
  • Ather Energy
  • Hexaware – this transaction is India’s first billion-dollar IPO in 2025 and the largest-ever IT services IPO in India, and it was awarded Equity Market Deal of the Year at the ALB India Law Awards 2026, and Capital Markets Deal of the Year by India Business Law Journal’s Deals of the Year Awards 2025
  • Ventive Hospitality
  • Swiggy – this transaction marks the second-largest IPO in India in 2024, and was awarded Capital Markets Deal of the Year at India Business Law Journal’s Deals of the Year Awards 2024, 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
  • Hyundai Motor India – this transaction marks the largest IPO in India to date and the second-largest IPO globally in 2024. It was awarded Best Equity Deal: India at the FinanceAsia Achievement Awards 2025, Equity Market Deal of the Year at the ALB India Law Awards 2025, and Capital Markets Deal of the Year at India Business Law Journal’s Deals of the Year Awards 2024
  • Ola Electric – this transaction is the first IPO by an electric vehicle maker in India, and it was recognized as a Highly Commended IPO: South Asia at the FinanceAsia Achievement Awards 2024
  • Go Digit General Insurance 
  • Tata Technologies – this transaction was awarded India Deal of the Year by India Business Law Journal in 2023
  • Delhivery – this transaction was awarded Equity Market Deal of the Year at the ALB India Law Awards 2023 and Deal of the Year by India Business Law Journal in 2022
  • PayTM Labs (One97 Communications Limited) – this transaction was awarded Capital Markets Deal of the Year at India Business Law Journal’s Deals of the Year Awards 2021
  • Policybazaar
  • Zomato – this transaction was awarded Equity Market Deal of the Year (Premium) and Securities Deal of the Year: Equity at the ALB India Law Awards 2022
  • Krishna Institute of Medical Sciences
  • Sona Comstar 
  • Kalyan Jewellers India
  • Apollo Hospitals Enterprise 
  • SBI Cards and Payment Services

REITs and INVITs

  • Nexus Select Trust – this transaction is India’s first publicly listed retail mall-led REIT
  • Digital Fibre Infrastructure Trust
  • Altius Telecom Infrastructure Trust (fka Tower Infrastructure Trust)
  • Embassy Office Parks REIT
  • Oriental InfraTrust
  • India Grid Trust

US IPOs and Other SEC-registered Offerings

  • MakeMyTrip 
  • Vedanta, formerly Sterlite Industries (India) 
  • Azure Power Global 
  • Coforge
  • ReNew Power de-SPAC
  • Dr. Reddy’s Laboratories 
  • Infosys Technologies 

Other Equity Capital Markets Transactions

  • The underwriters in Reliance Industries’s US$7 billion rights offering of equity shares on NSE
  • The underwriters in Bharti Airtel’s US$3 billion rights offering of equity shares on NSE
  • The underwriters in The Indian Hotels Company’s US$230 million rights offering of equity shares on NSE and BSE

Debt Capital Markets Transactions

  • Apollo on a US$500 million senior secured private placement to Adani Energy Solutions 
  • Philippine Airlines on its inaugural US$300 million 7.75% five-year senior bond offering
  • Japfa, a pan-Asian industrial agri-food corporation, on its offering of US$300 million 7.95% senior secured notes due 2031 
  • The issuer on the US$316.3 million bond offering of Varanasi Aurangabad NH-2 Tollway Private Limited (VAH) – this transaction marks the first Indian road concession company to raise US$ denominated project debt in the international capital markets, and it was awarded Transport Deal of the Year – Toll-Road (India) at the The Asset Triple A Sustainable Infrastructure Finance Awards 2026, and Capital Markets Deal of the Year by India Business Law Journal’s Deals of the Year Awards 2025
  • ReNew Power Private Limited and ReNew Wind Energy (AP2) Private Limited in its co-issue of US$585 million 4.5% senior secured notes due 2028
  • The lead managers on Biocon Biologics’ US$800 million 6.67% senior secured notes due 2029. This represents the first US$ bond issuance by a biopharmaceutical company in Asia Pacific, and the largest debut issuance from a high-yield-rated issuer from India in the past 10 years. This transaction was awarded Debt Market Deal of the Year at the ALB India Law Awards 2026, High Yield Deal of the Year at the IFLR Asia-Pacific Awards 2025, Best New Bond (India) at The Asset Triple A Awards for Sustainable Finance 2025, and High-Yield Bond of the Year at the IFR Asia Awards 2024
  • The underwriters in ICICI Bank Limited’s US$5 billion global medium term note program update
  • The initial purchaser on Azure Power Energy’s US$414 million 3.575% senior notes due 2026
  • The initial purchaser on Summit Digitel Infrastructure’s US$500 million 2.875% senior secured notes due 2031

Mergers and Acquisitions

  • Whirlpool on the sale of Whirlpool India, an India-based manufacturer and marketer of home appliances
  • MakeMyTrip limited:
    • On its US$1.4 billion sale of stakes to Ctrip.com International
    • On its US$3.1 billion convertible notes and primary share offerings, marking APAC's largest concurrent equity-linked bond and equity follow-on deal since 2022. This transaction was awarded Capital Markets Deal of the Year by India Business Law Journal’s Deals of the Year Awards 2025, and Best Bond Deal: India at the FinanceAsia Achievement Awards 2025
  • Vedanta Resources plc on its US$8.67 billion acquisition of a majority stake in Cairn India

Bar Qualification

  • New York

Education

  • LLM, University of Michigan Law School, 1997
  • LLM, University of Cambridge, 1996
  • B.Sc., St. Stephen’s College, 1995

Languages Spoken

  • English
  • Hindi