London, 15 October 2010 – Leading global law firm Mayer Brown advised Guernsey-based Caparo Energy, which focuses on the India wind power market, on its recent £50.18 million placing of ordinary shares and related admission to trading on the London Stock Exchange’s AIM market. The placing involved 43,636,000 new shares, representing 26.7 per cent of its share capital, and gave the company a post-admission market capitalisation of approximately £188.2m.
Caparo Energy will use the proceeds to buy and develop portfolios of wind farms in India with a view to producing up to 5,000 megawatts of power. The company plans to develop wind farms able to generate 3,000 megawatts by 2016 and a further 2,000 megawatts by 2017. Caparo has partnered with Suzlon, India's largest wind turbine producer, for the first phase and is in advanced talks to acquire land and turbines for phase two.
The Mayer Brown team was led by Corporate partner Paul de Bernier and Tax partner Sandy Bhogal. Associates on the transaction included James Broadhurst, Linda Lee and Archanna Ramu (Corporate), Stephen Green (Tax) and Simon Fisher (Finance).
Ravi Kailas, Caparo's chief executive, said: "The Mayer Brown team made it possible for this complex deal to be completed. Their market knowledge and original approach are important factors in putting Caparo Energy on the path to becoming one of India’s leading energy businesses and the largest operator of wind farms across the country."
Paul de Bernier, Corporate partner/co-head of Mayer Brown’s India practice, said: "With the widening energy supply gap in India, Caparo Energy's timing is perfect. There are substantial opportunities for private operators to help the government fill this energy gap. This deal reiterates the strength of our India practice and its integration across our key practice areas, including energy and capital markets."
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