Rajani Associates, Khaitan & Co act on Waaree Renewable Tech acquiring 55% stake in Associated Power Structures

Waaree Renewable Technologies Limited has acquired a 55% stake in Associated Power Structures Private Limited for ₹1,225 crore, through a combination of primary and secondary transactions.

Waaree Renewables was advised and represented by its in-house legal team led by Manoj Patil (Group Head Legal).

Rajani Associates advised Associated Power Structures and its promoters on this transaction. The Firm advised on the review, revision and negotiation of the definitive transaction documents, assisted in the closing of the transaction, and provided general legal advisory support in connection with the transaction.

The transaction team consisted of Prem Rajani (Managing Partner), Poorvi Sanjanwala (Senior Partner), Rutvik Rajagopal (Principal Associate) and Sakshi Solanki (Associate).

Khaitan & Co advised HSBC on sanctioning large rupee term loan facility extended to Waaree Renewable Technologies for this acquisition.

The transaction team consisted of Rajeev Vidhani (Partner), Rolwine Alva (Partner), Sarika Jhanwar (Senior Associate), Sushmit Mandal (Associate) and Govinda Shrikant Asawa (Associate).

This is first of its kind acquisition-finance transaction - where financing is extended for domestic acquisition by an Indian branch of a foreign bank or a private sector bank in India under the new guidelines framed by Reserve Bank of India,

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