Sun Drops Energia Private Limited, a KP Group company, has acquired a majority stake in DEK and Mavericks Green Energy Limited.

The transaction has been structured through a share swap arrangement, pursuant to which Sun Drops Energia will acquire shares of DEK and Mavericks Green Energy from its existing shareholders under a Share Swap Agreement. As consideration for the acquisition, compulsorily convertible preference shares (CCPS) of Sun Drops Energia will be issued to the selling shareholders.

Sidebar advised KP Group and Sun Drops Energia on the transaction, including the transaction structure, legal and regulatory aspects, due diligence, negotiation and finalisation of the Share Swap Agreement and other transaction documents, and matters relating to the issuance of CCPS.

The transaction team was led by Purusharth Singh (Founding Partner).

The transaction was led for KP Group by Karmit Sheth (Head – Legal, KP Group of Companies).

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