Cyril Amarchand Mangaldas, AZB & Partners and Hogan Lovells have assisted on CG Power and Industrial Solutions’ issuance of share capital of INR30 billion (USD351.76 million) via a qualified institutional placement (QIP).
CAM advised CG Power on the QIP conducted under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, section 42 of the Companies Act, 2013, and other applicable rules and regulations.
Partners Devaki Mankad and Gayathri Ramachandran led the CAM team, with support from associates Sakshi Sharma, Aniruddh Saraswat and Shabri Bose.
IIFL Capital Services (formerly known as IIFL Securities), DAM Capital Advisors, and HSBC Securities and Capital Markets (India) were the bookrunning lead managers on the QIP. AZB & Partners counselled the bookrunning lead managers on India law, while Hogan Lovells acted as offshore counsel.
The issue opened on 30 June 2025 and closed on 3 July 2025. CG Power operates across two major business segments — industrial systems and power systems—serving the power, railways and manufacturing sectors.
