By Archana Balasubramanian SEBI’s June 19, 2026 board approval reintroduces open-market buybacks through stock exchanges from August 1, 2026, permits completion through a compressed 66-working-day framework, and makes the merchant banker appointment discretionary. This is a significant change from the earlier framework, where appointing a merchant banker was mandatory and much of the execution process... Continue Reading →
Corporate Governance Before IPO: Why “Founder-Led” cannot mean “Founder-Controlled?”
This is Part – VII of the Capital Market article series. Introduction The journey from a privately held, founder-driven enterprise to a publicly listed company is among the most consequential transitions a business will ever undertake. Going public isn’t just about raising capital but a radical reordering of accountability. It forces founders to share ownership... Continue Reading →
IPO Readiness for PE-Backed Companies: Alignment Issues Between Founders and Investors
This is Part – VI of the Capital Markets article series. Introduction The decision to take a private equity–backed company public is among the most consequential events in that company’s lifecycle. It marks the transition from a closely governed, contractually ordered private structure to a publicly accountable company regulated by the Securities and Exchange Board... Continue Reading →
India’s Manufacturing Shift Is Creating a New Layer of Contract Risk
By - Archana Balasubramanian A container clears the last leg of an intercontinental shipment and stops at a Western customs barrier. The Tier-1 Indian supplier met every delivery timeline and quality threshold. The problem sits one level below: a sub-tier vendor in a geopolitically restricted region supplied a critical chemical compound, because hitting the buyer's... Continue Reading →
The Legal Architecture of a Successful IPO: Lawyers, Merchant Bankers, Auditors and Promoters Working Together
This is Part-V of the Capital Markets articles series. An Initial Public Offering (“IPO”) is often perceived as a financial milestone, a company’s transition from private ownership to public participation. In reality, however, a successful IPO is not merely a capital raising exercise. It is a highly coordinated legal, regulatory, financial and governance transformation. Behind... Continue Reading →
The DRHP Is Not a Marketing Document: Managing Disclosure Liability in Indian IPOs
Authored by Sanchith Shetty, Associate under the guidance of Riddhi Dutta, Senior Associate and Archana Balasubramanian, Partner. This is Part-IV of the Capital Markets articles series. Introduction In a content driven economy, promotion and marketing are key for influencing the consumers to buy/ subscribe to products or services. If a marketing tool clicks with the... Continue Reading →

