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Shardul Amarchand Mangaldas & Co Advises on HPL Electric & Power’s IPO

Shardul Amarchand Mangaldas & Co. acted as the sole transaction counsel in relation to the Initial Public Offering (IPO) of HPL Electric & Power Limited. The IPO opened on September 22, 2016 and closed on September 26, 2016. The Company is an established manufacturer of, metering solutions, lighting equipment, wires and cables and Switchgears in India.


The Shardul Amarchand Mangaldas & Co. Team acted as the sole transaction counsel. The Capital Markets team of the firm was led by Mr. Prashant Gupta, Partner & National Practice Head – Capital Markets, and included Mr. Sayantan Dutta, Partner; Ms. Shraddha Krishnan Dash, Senior Associate and Mr. Devi Prasad Patel, Associate.


The IPO involved issue and allotment of 17,871,287 equity shares of face value of ₹ 10 each for cash at a price of ₹ 202 per Equity Share (including share premium of ₹ 192 per equity share) aggregating up to ₹ 3,610 million. HPL Electric and Power Limited, a multi-product electric equipment company, is an established player in the electrical equipment industry. Its product range is divided into four verticals – Metering Solutions, Switchgears, Lighting Equipment and Wires & Cables.


The parties involved in the transaction were HPL Electric & Power Limited (the “Issuer”) and SBI Capital Markets Limited, IDFC Bank Limited and ICICI Securities Limited (the “Underwriters”)


The deal is valued at INR 361Crores.


About Shardul Amarchand Mangaldas & Co.

Founded in 2015, Shardul Amarchand Mangaldas & Co., is one of India’s leading law firms rated by International organisations, law directories and professional journals. As a full service law firm, it is renowned in the business community for its ability to enable business, its innovative solutions, its responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” with a legacy of 99 years.


The Firm has over 430 lawyers, including 85 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurgaon, Ahmedabad, Kolkata, Bangalore and Chennai