AZB & Partners has promoted Mumbai capital markets senior associate Varoon Chandra to partner.

Chandra said: “I think the intention is obviously to tie in capital markets with the vision of the rest of the firm and take the practice to the next level as well. We have been doing really well over the past few years.” He added that he hoped this would continue.

Having started at AZB in 2004 and then worked in capital markets under Shobhan Thakore, who later left AZB to found Linklaters-best friend Talwar Thakore & Associates in 2006. Chandra continued at AZB and became part of the team of capital markets head Shameek Chaudhuri, who has been an AZB partner since 2007.

Chaudhuri explained that they handled both debt and equity capital markets, although currently the equity markets were quiet. The total capital markets strength in Mumbai was now between 10 and 15 lawyers with the firm having worked hard on expanding its second level, he said.

AZB managed to climb to third place of Legally India’s initial public offerings (IPO) league table for the 2010-11 financial year from fifth the previous year, though AZB had won fewer qualified institutional placement mandates (QIP) over the same period.

AZB partner and CEO Abhijit Joshi added that Chandra would be one of the firm’s youngest partners with an age of 29, and that Joshi was also personally excited, having recruited Chandra from Nalsar Hyderabad in 2004.