APAR Industries Limited has raised ₹2,500 crore from a Qualified Institutional Placement of 16,88,618 equity shares, in a transaction that drew three law firms across domestic and international counsel roles. The deal, which closed in August 2026, reinforces APAR Industries’ position as a dominant force in India’s power infrastructure and renewables supply chain. See how this transaction stacks up against other recent capital-markets mandates on the Deal Meter.
Introduction
Apar Industries Limited raised ₹2,500 crore through a Qualified Institutional Placement of 16,88,618 equity shares, with Trilegal acting as counsel to the issuer on the transaction. The company’s Share Issue Committee of Directors approved the allotment of 16,88,618 equity shares to eligible institutional buyers at the issue price of ₹14,805 per share, including a premium of ₹14,795 each. The proceeds of the QIP are proposed to be utilised towards funding working capital requirements and general corporate purposes, with ICICI Securities and Motilal Oswal Investment Advisors acting as lead managers.
The QIP follows the approval given by the Board of Directors on June 30, 2026, and the special resolution passed by shareholders at an extraordinary general meeting on July 30, 2026. APAR’s Share Issue Committee approved the QIP closure, allocating 16,88,618 shares at ₹14,805 each on August 13, 2026.
Deal Value
APAR Industries Limited allotted 16,88,618 equity shares at an issue price of ₹14,805 per share, raising approximately ₹2,500 crore and significantly increasing its paid-up equity share capital. As a result of this issuance, the company’s paid-up equity share capital rose from ₹40,18,37,190, comprising 4,01,83,719 shares with a face value of ₹10 each, to ₹41,87,23,370 with a total of 4,18,72,337 shares.
Legal Teams Involved
Trilegal — Counsel to APAR Industries
Trilegal advised Apar Industries on this QIP. The transaction was led by Bhakta Patnaik (Partner) and Albin Thomas (Partner), with support from Malika Grewal (Counsel), Jahanvi Jain (Senior Associate) and Associates Bhoomi Sandesara, Snehal Kaushal, Mukund Bali, and Amisha Dubey.
- Bhakta Patnaik — Partner
- Albin Thomas — Partner
- Malika Grewal — Counsel
- Jahanvi Jain — Senior Associate
- Bhoomi Sandesara — Associate
- Snehal Kaushal — Associate
- Mukund Bali — Associate
- Amisha Dubey — Associate
TT&A — Counsel to the Lead Managers
TT&A advised ICICI Securities Limited and Motilal Oswal Investment Advisors Limited, the lead managers, on the QIP. The transaction team consisted of Abhinav Kumar (Partner), Shubham Sancheti (Managing Associate), Aditya Jain (Senior Associate), Associates Akshita Sharma, Mihika Ambikar, and Swati Tirkey.
- Abhinav Kumar — Partner
- Shubham Sancheti — Managing Associate
- Aditya Jain — Senior Associate
- Akshita Sharma — Associate
- Mihika Ambikar — Associate
- Swati Tirkey — Associate
Hogan Lovells Cadwalader — International Counsel to the Lead Managers
Hogan Lovells Cadwalader acted as International Counsel for the lead managers. The transaction team was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner).
- Biswajit Chatterjee — Head of the India Practice and Dubai Office Managing Partner
Significance and Impact
APAR Industries is India’s largest player in terms of sales of conductors in Fiscal 2026, one of the leading exporters of cables and conductors from India in Fiscal 2026, and one of the largest cable manufacturers for renewables in India as of Fiscal 2026, as per CRISIL. This market positioning makes the QIP a strategically significant capital raise, directly tied to India’s accelerating power transmission and energy transition pipeline.
The placement is a full primary issue of fresh equity shares, meaning all proceeds flow to the company rather than to selling shareholders. The transaction also demonstrates the continued appetite of qualified institutional buyers for issuers with deep exposure to India’s renewables and infrastructure sectors.
The mandate further underscores Hogan Lovells Cadwalader‘s growing footprint in Indian capital markets transactions. The firm was formed through the combination of Hogan Lovells and Cadwalader, Wickersham & Taft, uniting a global leader in highly regulated sectors with Cadwalader’s market-leading finance, structured products, and capital markets capabilities.
The APAR Industries ₹2,500 crore QIP represents a significant capital-markets event in India’s power and renewables sector, with a cross-border legal advisory structure spanning Trilegal, TT&A, and Hogan Lovells Cadwalader. The proceeds are directed towards working capital and general corporate purposes, supporting the company’s continued growth across conductors, cables, and renewable energy infrastructure. For further details on the allotment and regulatory filings, refer to reporting by Bar & Bench, Legal Era Online, and Business Upturn.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
