Indian law firm Khaitan & Co has advised Torrent Power on its equity offering of $413 million through a qualified institutional placement of shares. Shardul Amarchand Mangaldas & Co and Sidley Austin advised the bookrunning lead managers on the deal. 

The BRLMs comprised Kotak Mahindra Capital Company, Jefferies India and JM Financial.         

Torrent is one of India’s leading private sector integrated power utility companies with an established presence across power generation, transmission, and distribution.

“The deal was concluded within an accelerated timeline due to high demand and lucrative market conditions for the investment,” SAM said in a statement. 

The Khaitan team comprised executive director Sudhir Bassi, partners Madhur Kohli and Vaibhav Mittal, and associates Arjun Kapur, Nibha Yadav, Siddharth Jain, Vanshika Singh and Varshini Puni. Assistance was provided by partner Atman Desai, senior associate Ayushi Chaudhary, and associates Akshat Kothari, Priyesh Verma and Vivan Jhaveri. 

The SAM team comprised partner Nikhil Naredi, counsel Trishita Dasgupta, senior associate Chinmay Sethia, and associates Jheel Bhargava, Manish Soni, Veronica Miranda, Avani Sharda, Gayathri Krishnan, and Charana Reddy. 

Associate Sudekshana Venkatesan from the infrastructure, energy and project finance team assisted in infrastructure diligence and associates Ojaswi Shankar and Ayan Tandon helped out on the disputes-related matters. 

Sidley’s team was led by partner Manoj Bhargava and managing associate Harekrishna Ashar. The team included Carla G. Teodoro, Nicholas R. Brown, Prabhat K. Mehta, Jeffrey R. Dohoda, Sanketh Hareesh Kumar, Andy J. Lau, and Tyler Combest.

A Manoj Bhargava-led Sidley team also advised on Godrej Properties’ $708 million QIP earlier this month.