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Deal Alert | Clove Legal advises on ₹230 Crore Growth Equity Investment

July 9, 2026

We are pleased to share that Clove Legal acted as legal counsel to Adage Automation Private Limited and its promoters on a landmark ₹230 Crore growth equity investment led by InCred Alternative Investments, with participation from Global South Capital and Prachetas Capital.

The transaction was led by Mr. Dharmesh Kotadia (Founder & Senior Partner), along with Ms. Nupur Rustagi (Partner) and Ms. Taniya Shah (Associate).

The investors were represented by:
AZB & Partners for InCred Alternative Investments and Global South Capital
Stratage Law Partners for Prachetas Capital

Spark Capital represented by Ramakrishnan Kalyanaraman and Prasanna Srinivasan acted as the Investment Banker in the deal.

Adage Automation Private Limited, headquartered in Goa, is a global leader in gas analysers and emission monitoring systems. With a presence across Asia, South America, Africa, the Middle East, and Europe, the company has established itself as one of the world’s fastest-growing providers of total gas analytical solutions. Its portfolio includes advanced process analytics solutions such as NDIR, Paramagnetic, FID, TCD, UV, CLD, TDLAS based Continuous Gas Analysers, Process Gas Chromatographs, Mass Spectrometers, and FTIR/FTNIR technologies. With a team of 330+ professionals, including 100+ trained service engineers, Adage is also India’s largest exporter of integrated gas analytical solutions and services.

We congratulate Dr. Abhijit Chatterjee, Promoter & CEO of Adage Automation Private Limited, the investors, and all advisors on the successful completion of this milestone transaction and wish them continued success in the journey ahead.

For more details visit: https://lnkd.in/dCMBW8KN

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