Acme Solar's Initial Public Offering (IPO) in India, worth $343 million, was managed by law firms SAM, CAM, and Hogan Lovells
India's renewable energy sector is witnessing a surge in funding, as evidenced by the recent Initial Public Offerings (IPOs) in the industry. Some of the key law firms and advisors involved in these significant renewable energy IPOs include Hogan Lovells, Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, JSA (J. Sagar Associates), and Linklaters.
Hogan Lovells acted as counsel for the Indian Renewable Energy Development Agency Limited (IREDA) on its US$235 million Qualified Institutions Placement (QIP). The team was led by Biswajit Chatterjee, with key contributors such as Kaustubh George, Varun Jetly, Aditya Rajput, Sanjana Ravjiani, and Aditya Dsouza.
In another notable IPO, Shardul Amarchand Mangaldas served as lead issuer counsel for Juniper Green Energy’s INR 3,000 crore (approximately US$349 million) IPO. Cyril Amarchand Mangaldas supported as domestic counsel for the underwriters, while international law firm Linklaters provided offshore counsel for the offering. The book running lead managers (BRLMs) included ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial, and Kotak Mahindra Capital Company.
JSA provided legal counsel for NTPC Green Energy Limited’s IPO, which was the largest fresh equity issuance in India's fiscal 2025.
Other recent renewable energy IPOs, such as Saatvik Green, have been approved by SEBI, indicating ongoing fundraising momentum in this sector. Prominent foreign firms like Kirkland & Ellis and Latham & Watkins are active in India’s high-growth sectors, including energy and infrastructure, often supporting complex deals and capital market transactions.
Waaree Energies completed a $515 million IPO earlier this year, with SAM, Trilegal, and Linklaters advising Premier Energies on its IPO. This year has seen several marquee renewable sector listings on India's bourses.
The upcoming $1.2 billion listing of NTPC Green Energy is another testament to the growing interest in India's renewable energy sector. Stay tuned for more updates on this exciting development.
Hogan Lovells' team, led by Biswajit Chatterjee, provided legal counsel for the finance of Indian Renewable Energy Development Agency Limited (IREDA) through a US$235 million Qualified Institutions Placement (QIP), demonstrating their expertise in the intersection of finance and technology in the renewable energy sector.
Prominent foreign firm Linklaters, alongside Indian firms such as Shardul Amarchand Mangaldas and Cyril Amarchand Mangaldas, have been actively involved in high-profile technology-driven renewable energy Initial Public Offerings (IPOs), showcasing their proficiency in the field.
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