Correction, 6/8/11: The original version of this story listed Conyers Dill & Pearman’s lead lawyer in the deal as Craig Fulton. It was Nicolas Richard. We regret the error.

India’s tourist industry is not just about attracting foreign visitors: Its own travel market is booming, too. Latham & Watkins has advised an Indian online travel company on a $126 million secondary offering on Nasdaq, following the company’s landmark listing last year.

The issuer, MakeMyTrip Ltd., raised about $70 million through its initial public offering on the New York-based exchange in August last year. The flotation was notable as the strongest-performing debut in the United States since 2007, with the issuer’s share price surging by 89 percent during first-day trading.

Last year’s IPO also broke a four-year drought of Indian listings on the U.S. stock markets and sparked renewed interest among potential issuers, according to Bloomberg. Latham & Watkins’s Rajiv Gupta says that Indian issuances in the U.S. face few regulatory hurdles due to the robustness of the local market regulator, SEBI. “Market perception is that there are enough checks and balances in place,” he says.

His firm is working with Indian clients on at least three further potential U.S. listings, Gupta adds.

Latham & Watkins’s team advising the issuer on U.S. law was led by Gupta and fellow Singapore partner Michael Sturrock. New York-based Jiyeon Lee-Lim provided additional tax counsel. Delhi-headquartered S&R Associates advised on Indian law with a team led by Sandip Bhagat. Offshore firm Conyers Dill & Pearman provided Mauritian law advice. Its team was led by Mauritius associate Nicolas Richard.

The underwriters of the issuance were Morgan Stanley & Co. International PLC, Deutsche Bank Securities, Inc., Pacific Crest Securities LLC, and Oppenheimer & Co., Inc. They were advised by Shearman & Sterling on U.S. law, headed by Singapore partner Matthew Bersani. Amarchand & Mangaldas & Suresh A Shroff & Co advised on Indian law. Prashant Gupta led the firm’s team from Delhi.

All five firms also provided advice on MakeMyTrip’s IPO last year. According to Gupta, Latham & Watkins had not previously advised the company, but won the assignment through a combination of personal introductions and a strong pitch.