Adani Energy Solutions Ltd. has made a qualified institutional placement (QIP) of equity shares amounting to ₹8,373.10 crore.

SBI Capital Markets Limited, Jefferies India Private Limited and ICICI Securities Limited acted as the bankers to the QIP.

The Capital Markets team of Cyril Amarchand Mangaldas advised Adani Energy Solutions on this QIP.

The team consisted of Yash J. Ashar (Senior Partner), Devaki Mankad (Partner), Jhalak Shah (Senior Associate), Rishav Buxi (Senior Associate), Hitesh Nagpal (Associate), Arikta Shetty (Associate) and Lajja Mehta (Associate).

Trilegal advised the book-running lead managers on Indian Law on this QIP.

The transaction team consisted of Richa Choudhary (Partner), Avanti Kale (Counsel), Maitreya Rajurkar (Counsels), Sanya Chaudhari (Senior Associate), Pooja Tada (Associate), Aman Bahl (Associate), Urmil Shah (Associate), Mathangi K (Associate) and Archit Jain (Associate).

Latham & Watkins advised the book-running lead managers on International Law on this QIP.

The transaction team was led by Singapore partner Rajiv Gupta, with associates Esha Goel and Isabel Yu, and Hong Kong associates Jay Watanatornpitak and Li-kang (Jeff) Ker.

Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim and Chicago partner Enrique Rene de Vera, with London associate Fangyuan (Farrah) Yan.

This is Adani Energy Solutions' first equity fund raise since its demerger and listing. Further, this is one of the largest equity fund raise by way of a QIP by any company in India’s power sector as well as one of the largest fund raise by way of a QIP in India.

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