Clifford Chance

Clifford Chance advises on CESC Limited's US$80 million qualified institutions placement of equity shares

Leading international law firm Clifford Chance has advised CLSA India Private Limited, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and IDFC Securities Limited as joint bookrunning lead managers on CESC Limited’s (CESC) approximately US$80 million Rule 144A/Regulation S qualified institutions placement of 7,621,118 equity shares at a price of Rs. 644 per equity share.

Singapore partner Rahul Guptan who led on the deal said, “We are thrilled to have advised the joint bookrunning lead managers on this important transaction. We were able to successfully execute this deal on an expedited basis by leveraging our US law capabilities and extensive experience in relation to Indian capital markets transactions across our Asia Pacific platform. This matter further demonstrates the robustness of international equity capital markets and we are very much looking forward to acting on other equity and debt deals originating from India."

Rahul was assisted by Hong Kong consultant Thomas Kollar and Bangkok senior associate Kamil Gérard Ahmed.

Luthra & Luthra Law Offices and Khaitan & Co provided Indian legal advice to the joint bookrunning lead managers and CESC, respectively.

CESC operates a diverse portfolio of business lines spanning the power generation, transmission and distribution, business process management, retail and property development segments. The company’s equity shares are publicly listed on the National Stock Exchange of India Limited, the Calcutta Stock Exchange Limited and the BSE Limited.