Cyril Amarchand Mangaldas (“CAM”) advised Adani Enterprises Limited (“AEL”) on issuance of equity share capital aggregating up to INR 4,200 crore by way of a qualified institutions placement (“Issue”). The Issue was undertaken by AEL in compliance with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Section 42 of the Companies Act, 2013 and other applicable rules and regulations.

AEL, the flagship entity of the Adani group, is among India’s top business houses with an integrated energy and infrastructure platform in India and a long track record of successfully executing largescale projects. AEL is one of India’s largest listed business incubators in terms of market capitalisation and focuses on incubating businesses in four core industry sectors – energy and utility, transportation and logistics, consumer, and primary industry. AEL has, over the years, seeded new business interests for the Adani group, developed them into sizeable and self-sustaining business verticals and subsequently demerged them into independently listed and scalable platforms. The current business portfolio of AEL includes a new energy ecosystem, data centers, airports, roads, food FMCG, digital, mining, copper, PVC, defence and specialized manufacturing, among others.

The transaction team was led by Yash Ashar, Senior Partner; Devaki Mankad, Partner; with support from Jhalak Shah, Senior Associate; Adwait Deshmukh, Senior Associate; Raksha Raina, Associate; Arikta Shetty, Associate; and Devansh Raheja, Associate.

SBI Capital Markets Limited, Jefferies India Private Limited and ICICI Securities Limited acted as book running lead manager to the Issue.

The Issue was launched on October 9, 2024, and closed on October 15, 2024.