Khaitan & Co has advised Eminent Electricity Distribution Limited, a wholly owned subsidiary of CESC Limited, under the Kolkata based RPSG Group, on the acquisition of Chandigarh Power Distribution Limited.
The transaction team consisted of Dibyanshu (Partner) and Srijita Jha (Senior Associate) with strategic inputs from Haigreve Khaitan (Senior Partner).
The acquisition process involved the transfer of assets, liabilities, power purchase agreements, and personnel to Chandigarh Power Distribution Limited (CPDL), ensuring that employee service terms remain unchanged. Notably, EEDL's investment of ₹871 crore surpassed the reserve price.
RPSG plans to modernize the electrical infrastructure, aiming to provide a reliable 24x7 power supply. The group is also committed to increasing the share of green energy in its supply, aligning with Chandigarh's sustainability goals. The Joint Electricity Regulatory Commission (JERC) will continue to oversee consumer tariff determinations, ensuring transparency and fairness in pricing.
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