Trilegal and Linklaters advised on Cemindia Projects’ ₹1400 crore QIP.

Cemindia Projects Limited (Cemindia), formerly known as ITD Cementation India Limited, undertook a qualified institutions placement (QIP) of equity shares, raising approximately INR 14,000 million (₹1,400 crore; US$146 million). The QIP attracted strong institutional investor demand and was oversubscribed 2.3 times, with participation from leading domestic mutual funds and financial institutions.

Cemindia is a diversified engineering, procurement and construction (EPC) player with presence across eight sectors, including maritime structures, urban infrastructure, MRTS and airports, industrial structures and buildings, highways, bridges and flyovers, foundation and specialist engineering, water and wastewater, data centres, and hydro, dams, tunnels and irrigation. It is part of the Adani Group and has more than nine decades of operating experience.

The QIP reflects investor confidence in India’s EPC sector, underpinned by a strong order pipeline, sustained public and private infrastructure investment and increasing demand for EPC players with proven execution capabilities across large and complex projects.

Trilegal advised the placement agents, which included SBI Capital Markets Limited, ICICI Securities Limited and IIFL Capital Services Limited (formerly known as IIFL Securities Limited).

The Capital Markets team advising on the mandate was led by Partners Richa Choudhary and Maitreya Rajurkar and comprised Counsel Avanti Kale, Senior Associate Ayush Khandelwal, and Associates Siddhant Mishra, Yug Gambhir and Adya Singh.

Linklaters acted as sole international counsel to the book-running lead managers.

The Linklaters team was led by Partner and Head of India Practice Amit Singh and Capital Markets Counsel Joseph Wolpin, with support from Managing Associate Utkarsh Mishra.