Davis Polk & Wardwell began working in India in the 1920s, and has in the intervening decades maintained a strong commitment to “first class” work in the country. Today the firm devotes 25 of its lawyers to Indiafocused work, particularly Indian M&A and capital markets transactions. The India group was created in 2007 and is headed by corporate transactional, financing and restructuring specialist Kirtee Kapoor, whose reputation in the market is “second to none” according to one source. Fellow Indian national Ferish Patel joins Kapoor in the Hong Kong office, where he focuses on capital markets transactions, with an emphasis on complex high-yield debt and equity offerings.
In 2013 the firm acted as counsel alongside Amarchand to ICICI Bank in its successful $750 million notes offering, issued under the bank’s $5 billion global medium-term note programme. Kapoor led the team in acting for Citigroup Global Markets as the financial advisor to Wyeth India during its merger with Pfizer India, bringing both entities together under the Pfizer brand in the country and allowing for greater financial strength and streamlined operational and compliance costs. Kapoor also took the lead when the firm advised Indiabulls Housing Finance (IHC) in connection with its amalgamation with Indiabulls Financial Services, and the listing of its global depository receipts on the Luxembourg Stock Exchange.