Cyril Amarchand Mangaldas (CAM), Trilegal and A&O Shearman advised on Adani Enterprises’ INR 15,000 crore QIP.
Adani Enterprises Limited (“AEL”), the flagship company of the Adani Group and one of India’s largest listed business incubators, has completed its qualified institutions placement (QIP) of equity shares aggregating to approximately INR 15,000 crore (USD 1.57 billion).
The QIP opened on July 2, 2026, and closed on July 7, 2026. The transaction represents the largest qualified institutions placement undertaken by a non-banking company in India and is among the largest equity fundraises in the Indian capital markets.
The proceeds from the QIP are expected to support AEL’s growth initiatives, including capital expenditure requirements for its polyvinyl chloride (PVC) plant, payment of concession fees for the Chennai Outer Ring Road project, repayment or prepayment of borrowings, funding inorganic growth opportunities, and general corporate purposes.
The lead managers to the issue were SBI Capital Markets Limited, ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Jefferies India Private Limited.
CAM advised Adani Enterprises Limited on the QIP.
The CAM Capital Markets team was led by Partner (Regional Co-Head – Capital Markets – West) Devaki Mankad, with support from Principal Associate Rishav Buxi, Senior Associate Adwait Deshmukh, and Associates Archit Jain, Arikta Shetty, Janhavi Deshmukh, Harsha Menon, Akshat Sharma, and Sajal Soni.
Trilegal advised book running lead managers in connection with the QIP.
The Capital Markets team advising on the matter was led by Partners Richa Choudhary and Maitreya Rajurkar and comprised Counsel Avanti Kale, Senior Associate Ayush Khandelwal, and Associates Siddhant Mishra, Adya Singh, Arnab Goswami, Samruddhi Varma, and Shreyansh Gupta.
A&O Shearman acted as the international legal counsel to the book running lead managers in connection with the QIP.
The A&O Shearman team was led by Partner Pallavi Gopinath Aney, supported by Partner Kyungwon (Won) Lee, Senior Associate Nabil Shadab, and Associate Shinjan Alok.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
