Adani Enterprises Secures ₹15,000 Crore Through QIP
Adani Enterprises Limited successfully raised ₹15,000 crore through a qualified institutional placement (QIP) of equity shares. This significant financial maneuver was expertly guided by the law firm Cyril Amarchand Mangaldas, which provided legal advice to Adani Enterprises. The transaction was spearheaded by Devaki Mankad, Partner and Regional Co-Head of Capital Markets – West, with substantial support from a team including Rishav Buxi (Principal Associate), Adwait Deshmukh (Senior Associate), and associates Archit Jain, Arikta Shetty, Janhavi Deshmukh, Harsha Menon, Akshat Sharma, and Sajal Soni.
Legal Counsel for Placement Agents
Trilegal played a crucial role in advising the placement agents involved in the transaction. These agents included SBI Capital Markets Limited, ICICI Securities Limited, IIFL Capital Services Limited, and Jefferies India Private Limited. The legal team from Trilegal was led by partners Richa Choudhary and Maitreya Rajurkar, with the assistance of Avanti Kale (Counsel), Aayush Khandelwal (Senior Associate), and associates Siddhant Mishra, Adya Singh, Arnab Goswami, Samruddhi Varma, and Shreyansh Gupta.
Previous Collaborations and Future Plans
Both Cyril Amarchand Mangaldas and Trilegal have a history of collaboration, having previously advised on Adani Enterprises’ 2024 QIP. The capital raised from the latest QIP is earmarked for several strategic purposes, including funding capital expenditures of certain subsidiaries, repaying specific borrowings of Adani Enterprises and its subsidiaries, and supporting inorganic growth through potential acquisitions.
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