Dilip Buildcon Limited has divested 49% equity stake in ten special purpose vehicles, held through DBL Renewable Private Limited, in favour of Alpha Alternatives Fund Advisors LLP.

The SPVs undertake 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 ₹6,263 crore and an enterprise value of ₹6,829 crore.

Khaitan & Co advised Dilip Buildcon on this transaction.

The core transaction team consisted of Akhil Bhatnagar (Partner), Bhavya Bhankharia (Principal Associate) and Alankrita Singh (Senior Associate). They were supported by:

On corporate governance aspects: Sharad Abhyankar (Partner).

Other transaction assistance: Bhagirath Ashiya (Partner), Palak Sheth (Associate), Gauri Jindal (Associate), Tirthesh Jain (Associate) and Shravani Bhide (Associate).

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