TT&A Advocates and Solicitors advised Nuvama Wealth Management Limited and Jefferies India Private Limited who acted as the lead managers in KEI Industries Limited on its ₹2000 crore Qualified Institutional Placement (QIP).
TT&A's transaction team consisted of Abhinav Kumar (Partner), Shubham Sancheti (Senior Associate) and Indira Satish, Keshav Yadav & Soham Vakil (Associates).
The transaction involved issuance of 5.23 lakh equity shares at a price of ₹ 3,800 per equity share (ie. premium of ₹ 3798 per share)
KEI Industries Limited is involved in manufacturing low tension, high tension and extra high voltage cables, along with control and instrumentation and specialty cables, house wires and stainless-steel wires.
This QIP is one of the largest QIPs of the year in the cables infrastructure space.
The QIP saw participation from 104 institutional investors, including significant contributions from Kotak Mutual Fund (27.51% allocation), Motilal Oswal Midcap Fund (13%), and others such as ICICI Prudential funds and Government Pension Fund Global. The funds are intended to support KEI Industries’ growth initiatives, and financial flexibility.
This marks KEI's first equity fundraising since 2020. Following the QIP, the company's paid-up capital increased to ₹191.1 crore comprising 9.55 crore shares.
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