Law firm CAM, AZB, and Hogan Lovells participate in a $351 million Qualified Institutions Placement (QIP) for CG Power.
Indian Multinational CG Power and Industrial Solutions Secures $351 Million Through Qualified Institutional Placement (QIP)
CG Power and Industrial Solutions, an Indian multinational company specializing in power generation, transmission, distribution, and railway transportation, has successfully raised $351 million through a Qualified Institutional Placement (QIP) of equity shares.
The QIP was led by Devaki Mankad, Regional Co-Head - Capital Markets - West at Cyril Amarchand Mangaldas. The transaction was advised by both Cyril Amarchand Mangaldas and Hogan Lovells, with the latter serving as advisors to the bookrunning lead managers for the transaction. AZB & Partners also played a role as advisors to the bookrunning lead managers.
The funds raised are expected to support CG Power and Industrial Solutions' capital expenditure plans and potential acquisitions. The exact planned uses of these funds, including acquisitions or industry expansion, have not been disclosed. However, based on general industry practices, the capital could be directed towards acquiring companies in related fields, scaling industrial production capabilities, investing in new technologies, or expanding geographic market presence.
The bookrunning lead managers for the transaction were not specified in the available information. Among the team at Hogan Lovells, Biswajit Chatterjee, head of the India practice and Dubai office managing partner, led the capital markets team for the bookrunning lead managers. Support was provided by a team of professionals including Aditya Rajput, Komal Israni, Suchisubhra Sarkar, Sanjana Ravjiani, Varun Jetly, and Purva Mishra. At Cyril Amarchand Mangaldas, Gayathri Ramachandran, Shabri Bose, and Aniruddh Saraswat were part of the capital markets team led by Devaki Mankad. Additionally, Kaustubh George and Sakshi Sharma provided support to the capital markets team at Hogan Lovells for the bookrunning lead managers of CG Power and Industrial Solutions' QIP.
For accurate and detailed insights into the specific fundraising event or plan for CG Power and Industrial Solutions, it is recommended to consult the latest official company releases, investor presentations, or filings.
CG Power and Industrial Solutions intends to utilize the funds raised through the QIP for capital expenditure plans and potential acquisitions, with the possibility of acquiring companies, scaling industrial production capabilities, investing in new technologies, or expanding geographic market presence.
The capital markets team responsible for the QIP of CG Power and Industrial Solutions consisted of Devaki Mankad, Gayathri Ramachandran, Shabri Bose, Aniruddh Saraswat, Biswajit Chatterjee, and a team of professionals from both Cyril Amarchand Mangaldas and Hogan Lovells.
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