Cyril Amarchand Mangaldas Advised Adani Energy Solutions On ₹8,373 Cr QIP
Cyril Amarchand Mangaldas (CAM) advised Adani Energy Solutions Limited (AESL), on the issuance of equity share capital
Cyril Amarchand Mangaldas Advised Adani Energy Solutions On ₹8,373 Cr QIP
Cyril Amarchand Mangaldas (CAM) advised Adani Energy Solutions Limited (AESL), on the issuance of equity share capital aggregating up to ₹ 8,373.10 crores by way of a qualified institutions placement (Issue). The Issue was undertaken by AESL in compliance with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Section 42 of the Companies Act, 2013.
This was one of the largest equity fundraisers in the energy and power sector by way of a qualified institutions placement. The Issue launched on July 30, 2024, and closed on August 2, 2024, with an overwhelming subscription rate of nearly six times. The allotment was completed on August 3, 2024.
AESL is a part of the Adani portfolio entities, which is among India’s top business houses. AESL is one of the leading players in the transmission and distribution sector and leads the private sector transmission segment, owning 41.5% of the private operational transmission capacity as of Fiscal 2024.
Cyril Amarchand Mangaldas played a pivotal role in addressing key complexities in the transaction and providing strategic guidance to ensure the successful execution of the transaction.
The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The transaction was led by Yash Ashar, Senior Partner; Devaki Mankad, Partner; with support from Jhalak Shah, Senior Associate; Rishav Buxi, Hitesh Nagpal, Arikta Shetty, and Lajja Mehta, Associates.
SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited acted as book running lead managers to the Issue.