Mercator Ltd successfully raised INR 1.02 billion through a Qualified Institutional Placement arranged by Elara Capital. The placement was the largest in the energy sector that fiscal year. Proceeds will be used to reduce debt, pursue growth opportunities through acquisitions and initiatives, and for general corporate purposes. Elara Capital marketed the placement across India, Singapore, Hong Kong, and London, attracting strong interest from global investors despite a broader downturn in such placements that year.

1. Elara Capital Successfully Closes QIP for
Mercator Ltd
QIP Date:
17 January 2017
INR 102 Crs
Mercator Ltd
QIP
Sole BRLM
January 2017

2. 2
Elara closes the largest QIP in the Energy sector in
FY2017 - YTD
• Diversified energy focused conglomerate operating in :
– Coal: mining, trading and third party logistic solutions
– Oil & Gas: E&P, offshore operations and EPC
– Shipping: wet bulk, dry bulk and gas carrier
– Dredging: provides maintenance dredging services for Indian
ports
• With operations in India, Mozambique, Myanmar and Indonesia
• A turnaround story on account of deleveraging, expansion in the
core businesses i.e. Shipping & Dredging and steady progress with
the E&P activity in the Oil & Gas blocks
Company Overview
• Issue Size: INR 1,019 mn (USD c.15 mn)*
• Issue Price: INR 40.7 per share
• Face Value: INR 1.0 per share
• Dilution: ~12%
• Sole BRLM: Elara Capital
• Objects of the Issue
– Deleveraging the balance sheet
– Growth opportunities through acquisitions and strategic
initiatives
– General corporate purposes
Issue Contours
• Elara’s marketing efforts ensured no major value erosion
• Marketed across multiple regions: India, Singapore, HK and
London
• Attracted strong participation from the global FIIs and FPIs, in a
year in which fundraising through QIPs was at record five year low
Focused Issue Marketing
Key Investors
India Opportunities Growth
Fund - Pinewood Strategy
Testimonial
* Exchange rate as on 17th January 2017

3. Disclaimer
This document is not intended to form, and should not be treated as, the basis of any investment decision. The information in
this document does not purport to be comprehensive. No representation or warranty, express or implied, is or will be made
and no responsibility or liability is or will be accepted by, any member of Elara Capital, or by any of their respective officers,
servants or agents or by their advisers or any other person as to or in relation to the accuracy or completeness of the
information or the information or opinions contained herein or supplied herewith or any other written or oral information
made available to any interested party or its advisers.
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