Trilegal has advised the book running lead managers, ICICI Securities and IIFL Securities, on APAR Industries’ qualified institutional placement (QIP) of equity shares.
Trilegal partners, Bhakta Patnaik and Albin Thomas, led the transaction team, with the assistance of senior associate Aditya D’souza and associates Jahanvi Jain, Divya Shah, Shambhavi Sharma and Pratyusha Dasgupta.
APAR, an Indian alloy and aluminium conductor manufacturer, raised INR10 billion (USD120 million) to be used on working capital requirements.
APAR is the largest Indian company in conductor sales, and is one of the leading exporters of conductors and cables in FY2023, according to analytics company CRISIL.
