Trilegal has advised government-backed Indian Renewable Energy Development Agency on its recent fundraise through a qualified institutional placement of shares worth $233 million (INR 2005.90 crores). Dentons Link Legal advised the book running lead managers on the deal. Hogan Lovells served as international counsel to the deal.
The BRLMs included IDBI Capital Markets & Securities, BNP Paribas, Emkay Global Financial Services, Motilal Oswal Investment Advisors and SBI Capital Markets.
Through this placement, IREDA issued and allotted 121,466,562 Equity Shares of face value ₹10 each at an issue price of INR 165.14 per equity share, aggregating up to INR 2,005.90 crores.
Trilegal’s team was led by partner Murtaza Zoomkawala, who also led the Saraf and Partners that advised on IREDA’s initial public offering last year. Dentons Link Legal and Hogan Lovells advised on the IPO as well.
The Dentons Link Legal deal team comprised of partners Milind Jha and Shailender Sharma, principal associate Kunal Mehta, senior associate Aashna Batra, and associates Diksha Chawla, Kumar Aditya, Anmay Agarwal, Kartikeya Tyagi, Madhuri Pilania and Taksh Khanna.
