HCL Infosystems, a leading player in India’s IT sector, is using the funds raised through its US$102m qualified institutional placement (QIP) to develop its infrastructure and expand its operations. Equity shares were snapped up by US-based and international investors in a sign of renewed confidence in the region.

"We are also seeing a number of unlisted companies firm up plans to pursue an initial public offering later this year or in 2010.”

STEPHEN PEEPELS, DLA PIPER

“We are seeing a return of appetite for investment in India. Although below the tremendous growth rates experienced two or three years ago, the Indian economy is expanding at a rate this year ahead of any other country except China,” said Stephen Peepels (pictured), partner and head of DLA Piper’s US capital markets practice in Asia. “Growth is expected to accelerate and the QIP channel, as HCL Infosystems has chosen here, is becoming increasingly the vehicle of choice for listed companies to access equity capital. We are also seeing a number of unlisted companies firm up plans to pursue an initial public offering later this year or in 2010.”

As activity picks up in India and companies seek to establish or expand their investments, law firms in the region look to align their services to the needs of their clients and DLA Piper is no exception. The firm is bolstering its capabilities in order to be ready to capture this market. “Ventures into India today can be hugely successful, but there are many unique legal hurdles and business considerations to navigate which can significantly affect the outcome,” said Alastair Da Costa, Asia managing director of DLA Piper.

Related Stories:

• DLA Dubai head takes over Australasian reins
• New Middle East managing partner for DLA Piper
• Redundancies roll on at DLA