Private Equity PE-VC Fund Investments
Dilip Buildcon sells stake in 2 power projects to Alpha Alternatives for Rs.8,400-Cr
Source Economic Times (opens in a new tab)BSE Announcement (opens in a new tab)
Bhopal-based Dilip Buildcon has divested its stake in two special purpose vehicles to Alpha Alternatives. The transaction involves under-construction power transmission and solar projects valued at INR 8,400 crore. The assets involved in the divestment are housed under two entities: Mekhali Power Transmission and DBL Renewable. JM Financial acted as the exclusive financial advisor, while Khaitan and Co. served as legal counsel for the transaction.Mekhali Power Transmission is constructing a 400-kilovolt substation power transmission project spanning 470 circuit kms in Belagavi, Karnataka. DBL Renewable is developing a 1,363 MW solar portfolio in Madhya Pradesh.Dilip Buildcon plans to use the capital from this divestment to strengthen its balance sheet and transition toward an asset-light business model.