Cyril Amarchand Mangaldas (CAM) advised Adani Energy Solutions Limited (“AESL”), on issuance of equity share capital aggregating up to ₹ 8,373.10 crore 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 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 leading the private sector transmission segment, owning 41.5% of the private operational transmission capacity as of Fiscal 2024.
Our firm played a pivotal role in addressing key complexities in the transaction and 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, Senior Associate; Hitesh Nagpal, Associate; Arikta Shetty, Associate; and Lajja Mehta, Associate.
SBI Capital Markets Limited, Jefferies India Private Limited and ICICI Securities Limited acted as book running lead manager to the Issue.
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