Madhurima Mukherjee (Saha)

Madhurima Mukherjee, Senior Partner, JSA

Madhurima has more than 20 years of experience in securities offerings in the domestic and international markets including initial public offering, further offers, rights offer, qualified institutions placement, InVITs, block trades.

Often referred to as the “queen of capital markets“, she has been part of some of the most high-profile capital raising efforts in the country, including the Coal India Initial Public Offering (IPO) in 2010. Coal India eventually raised Rs 15,199 crore (over US$ 2.5 billion), which remains India’s one of the largest IPO so far.

Madhurima has strong business acumen and is oriented in approach. She heads the Capital Markets division at JSA. Before joining JSA, Madhurima was a Senior Partner at AZB & Partners, until April 2020. She has also worked with Luthra & Luthra as National Head and Partner until 2013 and Erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co, as Partner until 2006.

Madhurima has smoothly transitioned the AZB team to JSA.

Madhurima is also inclined towards academia and is a visiting Professor and mentor at The West Bengal National University of Juridical Sciences and National Law School, New Delhi.



Madhurima is one of the most well recognised and sought-after lawyers in the Capital Market space in India. Over the years, she has been bestowed with several awards and accolades by leading global and national directories and publications including Chambers and Partners, Asialaw, The legal 500, Asian Legal Business etc. which is a testament to her commitment to deliver value to the clients.

  • Band 1, Chambers & Partners Global & APAC
  • Featured in the ‘Top 100 Indian Lawyers’ list by IBLJ (2018 – 2020)
  • Listed amongst the 30 most powerful women in Indian Business by the BusinessToday magazine
  • ‘Highly Regarded’ for Capital Markets by IFLR1000
  • Recognised as ‘Distinguished Practitioner’ for Capital Markets by Asialaw
  • Recognised as ‘Top Legal Practitioner’ in India for Capital Markets by Banking, Finance and Transactional Law Expert Guide 2018
  • Recommended for IPO by the prestigious RSG India Report (2017)
  • Recognised as ‘Leading Lawyer’ for Capital Markets by the International Who’s Who of Professionals (2012)
  • Listed as ‘Hot 100 Lawyers’ by Asian Legal Business (2011)



Bar Counsel of Delhi



  • BA, LLB (Hons), National Law School of India University, Bangalore, India: 1997
  • Enrolled as an Advocate with the Bar Council of Delhi: 1998



  • English
  • Hindi
  • Bengali

She has done various iconic deals in the Indian Capital Market space and have represented some of the:

  • Largest Private Equity funds – Brookfield, Sequoia
  • Largest corporates – Bharati Group, Coal India
  • All new age internet-based companies and
  • Lead managers


She has advised on a variety of asset restructuring, takeovers and acquisition transactions across India. She has advised on family trusts and restructuring family businesses, including real estate and corporates.

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