Dilip Buildcon sells projects of Rs. 8,400 cr
Dilip Buildcon has recently sold solar power and transmission projects worth Rs. 8,400 crore to Alpha Alternatives, a company founded by ex-Edelweiss executive Naresh Kothari, according to a stock exchange disclosure. The transaction will be completed through a phased subscription and closing process as per the terms agreed upon by both parties, the company stated in a press release.
Dilip Buildcon will divest its stakes in two special purpose vehicles, Mekhali Power Transmission Limited and DBL Renewable Private Limited, which hold the transmission and solar power projects respectively. Mekhali Power Transmission is working on a 400 kilovolt sub-station power transmission project spanning 470 circuit kilometers in Belagavi, Karnataka, while DBL Renewable is developing a 1,363 megawatt solar portfolio in Madhya Pradesh.
Dilip Buildcon's MD and CEO, Devendra Jain, explained that the partnership with Alpha Alternatives allows the company to recycle capital early in the asset lifecycle while maintaining a disciplined focus on strengthening its balance sheet and building a more asset-light business. Alpha Alternatives' senior partner and head of private markets, Kaushal Biyani, expressed confidence in Dilip Buildcon's strategic partner status and its robust execution capabilities across infrastructure sectors.
JM Financial served as the exclusive financial advisor for the transaction, while Khaitan and Co. acted as legal counsel.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
