“Rahul is our go-to international counsel for equity capital markets. He's very knowledgeable, experienced, proactive and responsive.”
Biography
Rahul Guptan is a partner in the Firm's capital markets group based in Singapore. Rahul has more than 25 years of experience advising on complex cross-border India related transactions and specialises in securities and corporate law with a special focus on capital markets transactions. He is dual qualified in England and Wales and India.
Rahul regularly advises underwriters and issuers on various equity and debt capital markets offerings pursuant to Rule 144A and Regulation S, including IPOs, qualified institutional placements (QIP), high yield bond and convertible bond issuances, MTN programs, as well as tender offer and share buybacks.
Rahul has a formidable reputation in the India financing market. He has been consistently recognized by Chambers Asia Pacific and Chambers Global as a leading lawyer for India Capital Markets: International and Singapore Capital Markets: International; by The Legal 500 Asia Pacific as a Leading Individual for Singapore Capital Markets: Foreign firms; and by IFLR as a Highly Regarded Singapore capital markets practitioner.
He was also ranked as a Recommended Lawyer for Capital Markets in Lexology Index's (formerly Who's Who Legal) Southeast Asia Guide and included as one of the Singapore Debt & Equity leading practitioners in Who's Who Capital Markets Report. He has also been included in the International A List 2019-2025 by India Business Law Journal, as well as recognized as one of the Singapore’s 70 most influential lawyers aged 40 and under by Singapore Business Review.
Experience
Rahul's experience includes advising:
- The book running lead managers on Hyundai Motor India Limited's US$3.3 billion with Rule 144A/Regulation S IPO, which was the largest in Indian history as of its completion, the world's second-largest IPO in 2024, and Hyundai Motor's first listing outside Korea.
- The book running lead managers on the qualified institutional placement of units in the Brookfield India Real Estate Trust ("BIRET") aggregating to INR 35 billion (approximately US$404 million). This transaction stands as: (1) the only QIP by an Indian real estate investment trust ("REIT") in 2024; (2) the first REIT investment in India from the World Bank member International Finance Corporation and the Life Insurance Corporation of India; (3) BIRET's second QIP; and (4) the third QIP by a listed Indian REIT.
- The book running lead managers on the INR 19 billion (US$227.6 million) Rule 144A/ Regulation S IPO of Urban Company Limited on the Bombay Stock Exchange and the National Stock Exchange of India, establishing Urban Company as the first publicly listed app-based home services platform in India. Urban Company, formerly known as UrbanClap Technologies India Limited, operates a technology-driven, full-stack online services marketplace for quality-driven services and solutions across various home and beauty categories.
- The book running lead managers on the INR 48 billion (US$576 million) IPO of Knowledge Realty Trust, a real estate investment trust to be listed in India and sponsored by Blackstone and Sattva Group. At the time of listing, this IPO is the largest and most subscribed REIT IPO in India's history with an oversubscription of 13 times.
- The book running lead managers in the INR 33.95 billion (US$400 million) Rule 144A/ Regulation S IPO of Anthem Biosciences Limited, a Contract Research, Development and Manufacturing Organization (CRDMO) and one of the few companies in India with integrated New Chemical Entity (NCE) and New Biological Entity (NBE) capabilities across drug discovery, development and manufacturing. This IPO is the largest-ever IPO in India's CRDMO sector as of its completion.
- The book running lead managers on the approximately US$409 million Rule 144A/Regulation S IPO of Schloss Bangalore Limited, a Brookfield-sponsored company that owns and operates 'The Leela' Indian luxury hotels. This landmark offering is the largest-ever IPO in the Indian hospitality sector and the second largest in 2025 in India as of its completion in May 2025.
- The book running lead managers on the INR 42,250 million (US$509.64 million) Rule 144A/Regulation S IPO of Blackstone-owned International Gemological Institute (India) Limited ("IGI India") on the National Stock Exchange of India. IGI India became the first company in the gems and studded jewelry certification industry worldwide to be listed.
- The book running lead managers on the US$260.6 million IPO of Niva Bupa Health Insurance Company Limited, one of India's largest and fastest-growing standalone retail health insurers, and the only health insurance company in India that is majority controlled by a foreign global healthcare group, Bupa.
- The book running lead managers on the INR 12.5 billion (approximately US$145.64 million) Rule 144A/Regulation S IPO of Carraro India Limited, a manufacturer of axles and transmission systems for agricultural tractors and construction vehicles. Carraro India is a subsidiary of Italy-based Carraro SpA which heads the Carraro Group.
- The lead managers on the US$595 million QIP of Prestige Estates Projects Limited, one of the leading real estate developers in India. This was one of the largest QIPs by an Indian real estate company as of its launch in 2024.
- The book running lead managers on the US$72 million (INR 5.989 billion) Regulation S IPO of Awfis Space Solutions Limited, one of the largest flexible workspace solutions companies in India.
- The book running lead managers on the US$360 million IPO of Aadhar Housing Finance Limited, a Blackstone portfolio company focused on the low-income housing segment in India.
Leading lawyer for India Capital Markets (International Firms) (Expertise Based Abroad) in Chambers Asia Pacific 2023-2025
Leading lawyer for India Capital Markets (India expertise based abroad) and for Singapore Capital Markets (Foreign expert in India) in Chambers Global 2023-2025
Recommended lawyer for Capital Markets – Debt & Equity in the Lexology Index: Capital Markets 2025 Guide
Ranked in International A List 2019-2025 by India Business Law Journal
Leading Individual for Singapore Capital Markets: Equity and Debt: Foreign firms by Asia Pacific Legal 500 2023-2025
Leading lawyer for Singapore Capital Markets: International by Chambers Asia Pacific 2023-2024
Highly Regarded in Singapore Capital Markets by IFLR1000 2023-2024
Recommended individual for Capital Markets – Debt & Equity in Who's Who Legal (now Lexology Index) Global Guide 2023
Recommended Lawyer for Capital Markets in Lexology Index (formerly Who’s Who Legal) Southeast Asia 2023-2024
Recognized as one of the Singapore Debt & Equity Leading practitioners by Who's Who Capital Markets Report 2022
Leading individual for Singapore Capital Markets: Foreign firms by IFLR1000 2021
Among Singapore's 70 most influential lawyers aged 40 and under by Singapore Business Review 2016