Khaitan & Co acted as legal counsel to Torrent Power Limited for Indian law in relation to its qualified institutions placement of equity shares aggregating to INR 3,500 crores. The Book Running Lead Managers to the issue were Kotak Mahindra Capital Company Limited, Jefferies India Private Limited and JM Financial Limited.
This was the maiden equity raise by the Company and first equity raise in last three decades by the Torrent Group. Torrent Power's QIP is one of the largest fund raise conducted by a private utility player in India during the current financial year. Received overwhelming response from marquee global and domestic investors
The core team consisted of Sudhir Bassi (Executive Director),
Madhur Kohli (Partner), Vaibhav Mittal (Partner), Arjun Kapur
(Associate), Nibha Yadav (Associate), Siddharth Jain (Associate),
Vanshika Singh (Associate), Varshini Puni (Associate) with
assistance from the following:
Atman Jwalant Desai (Partner), Ayushi Chaudhary (Senior
Associate), Akshat Kothari (Associate), Priyesh Verma (Associate),
Vivan Jhaveri (Associate).
Media Links / Press Releases
https://www.thehindubusinessline.com/markets/stock-markets/torrent-power-qip-subscribed-4-times/article68965988.ece
https://www.cnbctv18.com/market/torrent-power-qip-closure-3500-crore-sbi-kotak-mf-new-world-fund-share-price-reaction-19520141.htm
https://www.moneycontrol.com/news/business/markets/torrent-power-may-raise-rs-3-500-crore-launches-qip-for-4-6-equity-stake-sale-check-share-price-12881576.html
https://economictimes.indiatimes.com/markets/stocks/news/torrent-power-rs-3500-cr-qip-oversubscribed-4-times/articleshow/116144738.cms?from=mdr
https://www.business-standard.com/markets/news/torrent-power-secures-rs-3-500-crore-via-qip-at-rs-1-503-per-share-124120600206_1.html
https://www.mercomindia.com/torrent-power-raises-%E2%82%B935-billion-in-qualified-institutional-placement