Khaitan & Co and Rajani Associates advised on Waaree Renewable Technologies Limited’s acquisition of a 55% controlling stake in Associated Power Structures Private Limited (APS) through a combination of primary and secondary transactions.
The transaction, valued at approximately INR 1,225 crore, was financed through a combination of debt, and equity, and marks one of the first domestic acquisition financings by an Indian branch of a foreign bank under the Reserve Bank of India’s new acquisition finance framework.
Khaitan & Co advised HSBC on the rupee term loan facility extended to Waaree Renewable Technologies for financing its acquisition of a controlling stake in Associated Power Structures.
The deal team included Rajeev Vidhani, Rolwine Alva, Sarika Jhanwar, Sushmit M. And Govinda Asawa.
Rajani Associates advised Associated Power Structures Private Limited and its promoters on the transaction.
The transaction team was led by Managing Partner Prem Rajani, and Senior Partner Poorvi Sanjanwala, with support from Principal Associate Rutvik Rajagopal, and Associate Sakshi Solanki.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
