Trilegal advised on the successful listing of Solarworld Energy Solutions
The leading law firm in India, Trilegal advised on the successful listing of equity shares by Solarworld Energy Solutions Limited (“Solarworld”) aggregating to INR 4,900.00 million through a combination of fresh issue and offer for sale by one of the promoters.
Solarworld is engaged in providing solar energy solutions, specialising in engineering, procurement, and construction services for solar power projects.
The net proceeds from the fresh issue will be utilised for investment in its subsidiary, part-financing the establishment of a solar cell manufacturing facility in Madhya Pradesh, and for general corporate purposes.
The IPO was over-subscribed 65.01 times, and the equity shares listed with a strong debut, delivering an 11% premium on the bourses.
The syndicate of Book Running Lead Managers comprised Nuvama Wealth Management Limited and SBI Capital Markets Limited.
The Trilegal Capital Markets team was led by Richa Choudhary (Partner), with support from Avanti Kale and Maitreya Rajurkar (Counsels), Aayush Khandelwal (Senior Associate), and Naman Shah, Kartikeya Anshu, and Adya Singh (Associates).
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