Goldi Solar Private Limited has raised ₹1,422 crore from a fundraise led by Havells India Limited, and saw participation from various high-net-worth individuals as well as investors such as Ambit Wealth Private Limited, NSFO Ventures LLP, Karmav Real Estate Holdings LLP, SRF Transnational Holdings Limited, Nikhil Kamath, Godwitt Construction Private Limited, and Shahi Exports Private Limited.
The deal not only involved investment but also established a strategic partnership with Havells, wherein Goldi has also agreed to install a dedicated module capacity of 1 gigawatt for manufacturing modules under the Havells brand name.
Saraf and Partners advised Goldi Solar and its promoter Ishverbhai Dholakiya on this transaction. The Firm advised on all aspects of the deal including structuring, secretarial assistance, preparing, negotiation and finalising the documentation for the deal, completion of conditions precedents, closing of the deal, managing fund flows, examining anti-trust related requirements in the deal documents in light of the recent FAQs issued by CCI and coordinating with and guiding various Investors.
The transaction was led by Navomi Koshy (Partner), along with Rupam Das and Abhishek Jasuja (Associates).
Akshayy S Nanda (Partner), along with Tanya Vats (Associate) provided valuable inputs on competition related aspects and led the process for obtaining the necessary composite CCI approval for the transaction.
Goldi Solar is India’s largest Solar PV module manufacturing company with annual capacity of 14.7 GW. Since inception in 2011, the company has been supplying world-class high efficiency modules in India and various geographies across the globe.
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