Khaitan & Co and AZB & Partners advised on Alpha Alternatives’ acquisition of Dilip Buildcon’s solar and transmission assets.
Dilip Buildcon Ltd proposed the divestment of its 49% equity stake in ten special purpose vehicles, held through DBL Renewable Pvt Ltd, undertaking the development, design and engineering of an approximately 1,363 MW (AC) grid-connected solar photovoltaic portfolio across 163 locations in Madhya Pradesh.
The portfolio carries an estimated total project cost of approximately INR 6,263 crore and an enterprise value of INR 6,829 crore. The transaction forms part of Alpha Alternatives’ phased acquisition of Dilip Buildcon’s transmission and solar assets.
Khaitan & Co advised Dilip Buildcon Ltd on the proposed divestment of its 49% equity stake in the ten special purpose vehicles undertaking the solar portfolio.
The core team for the Solar Portfolio Transaction consisted of Partner Akhil Bhatnagar, Principal Associate Bhavya Bhankharia and Senior Associate Alankrita Singh.
The deal was assisted by Partner Sharad Abhyankar on corporate governance matters, and Partner Bhagirath Ashiya and Associates Palak Sheth, Gauri Jindal, Tirthesh Jain and Shravani Bhide on corporate and M&A matters.
AZB & Partners advised Build India Infrastructure Fund (BIIF), managed by Alpha Alternatives, on its phased acquisition of Dilip Buildcon Ltd.’s transmission and solar assets.
The team comprised Ajay Sawhney, Aditi Misra, Aditya Prakash and Garima Puri.
