Hogan Lovells advised on Anant Raj’s ₹1,100 crore Qualified Institutional Placement (QIP)
The global law firm, Hogan Lovells, acted as the international legal counsel for the lead managers in Anant Raj Limited’s ₹1,100 crore Qualified Institutional Placement (QIP). The fundraising aims to support the Delhi-NCR-based real estate developer’s expansion, particularly in its growing data center business.
Anant Raj raised approximately ₹1,100 crore by issuing 1.66 crore equity shares to qualified institutional buyers at ₹662 per share, representing a 4.86% discount to the QIP’s floor price.
The proceeds from the QIP are intended for the development of data centers, ongoing real estate projects, and debt repayment.
Major institutional investors that participated in the QIP include Société Générale, BNP Paribas, Morgan Stanley, Jupiter India Fund, and Kotak Mahindra Life Insurance Company.
Earlier, Cyril Amarchand Mangaldas advised Anant Raj on ₹1,100 crore Qualified Institutional Placement (QIP), and Trilegal advised DAM Capital Advisors and Emkay Global Financial Services on Anant Raj’s INR 11,000 million QIP, highlighting the multiple legal advisory roles in the fundraising.
The Hogan Lovells team advising on the transaction was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner) and included Aditya Rajput (Senior Associate).
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