Hogan Lovells advises on US$353 million CG Power & Industrial Solutions equity offering
Dubai, Singapore, 11 July 2025 – Global law firm Hogan Lovells acted as US counsel to the book running lead managers on the issuance of equity share capital aggregating US$353 million by way of a qualified institutions placement (QIP) by CG Power and Industrial Solutions Limited. This is one of the largest equity fundraisings in India’s industrial manufacturing sector.
The Hogan Lovells Capital Markets team was led by Biswajit Chatterjee, Head of the India Practice and Dubai Office Managing Partner, with support from counsels Kaustubh George and Varun Jetly; senior associates Aditya Rajput and Suchisubhra Sarkar; and associates Aditya Dsouza, Sanjana Ravjiani, Komal Israni and Purva Mishra.
The issue was managed by DAM Capital Advisors, IIFL Capital Services, and HSBC Securities and Capital Markets (India).
CG Power and Industrial Solutions Limited, part of the Murugappa Group, is an engineering conglomerate with a focus on power and industrial equipment.
About Hogan Lovells India practice
Hogan Lovells has built a market-leading India practice, drawing on extensive experiences, deep local relationships and in-depth market knowledge. Our dedicated team, spanning our global network, supports Indian and foreign clients in exploring investment opportunities, raising capital, restructuring business, developing infrastructure projects, and resolving disputes in and outside of India. As trusted legal advisors, we are recognized for an innovative approach to thought leadership, delivering timely and comprehensive insights on legal developments that shape our clients’ strategies and long-term business goals.
