Adani Enterprises Limited’s INR150 billion qualified institutions placement reinforces confidence in India’s infrastructure growth story

The transaction marks AEL’s first significant equity fundraising in recent years and comes as AEL continues to invest across infrastructure, energy, transportation, manufacturing, and other strategic sectors of the Indian economy.

AEL is the flagship company of the Adani Group and one of India’s largest listed business incubators. Since its inception, AEL has developed and scaled a number of infrastructure and energy businesses that have subsequently been listed independently.

The proceeds of the QIP are expected to support AEL’s next phase of growth, including the capital expenditure requirements for the development of a polyvinyl chloride (PVC) plant, payment of the concession fee for the Chennai Outer Ring Road project, the repayment or prepayment of certain borrowings, funding inorganic growth opportunities, and general corporate purposes.

The A&O Shearman team was led by partner Pallavi Gopinath Aney, supported by partner Kyungwon (Won) Lee, senior associate Nabil Shadab, and associate Shinjan Alok.