Cyril Amarchand Mangaldas, Latham & Watkins and Trilegal have advised on Adani Energy Solutions’ qualified institutional placement (QIP) of equity shares, raising USD1 billion and making it the largest QIP in the power sector to date this year.
The QIP proceeds are earmarked for funding capital expenditure requirements of certain subsidiaries related to the establishment of transmission systems, the purchase and installation of smart meters and the repayment of debt incurred by Adani Energy and its subsidiaries.
The CAM capital markets practice advised Adani Energy on the QIP, with the team comprising senior partner Yash Ashar, partner Devaki Mankad, senior associates Jhalak Shah and Rishav Buxi, and associates Hitesh Nagpal, Arikta Shetty and Lajja Mehta.
Latham & Watkins and Trilegal advised SBI Capital Markets, Jefferies India and ICICI Securities, which were the book running lead managers and the placement agents.
Singapore partner Rajiv Gupta led the Latham team, with the support of associates Esha Goel and Isabel Yu, along with Hong Kong associates Jay Watanatornpitak and Jeff Li-kang Ker. New York partner Jiyeon Lee-Lim and Chicago partner Enrique Rene de Vera provided tax advice, with assistance from London associate Farrah Fangyuan Yan.
Trilegal partner Richa Choudhary led the capital markets team, with support from counsels Avanti Kale and Maitreya Rajurkar, senior associate Sanya Chaudhari, and associates Pooja Tada, Aman Bahl, Urmil Shah, Mathangi K and Archit Jain.
Adani Energy, part of the prominent Adani portfolio, is a leading player in 含羞草社区 power transmission and distribution sector, particularly in the private transmission segment.
