Dela Closed | FRV Group | Sale of 100% Securities

The details of the deal are as under:

Sector: Solar 

Announcement Date 19-Dec-2020 

Name of Client: FRV Group 

Acquirer Details: India Grid Trust  India 

Deal Description: FRV Group entered into definitive agreements with India Grid Trust, with IndiGrid Investment Managers Limited acting as Investment Manager for India Grid Trust, for sale of 100% securities holding in FRV Andhra Pradesh Solar Farm-I Private Limited & FRV India Solar Park II – Private Limited, each operating a 50MW solar power project in Andhra Pradesh. 

Enterprise Value: Approx. INR 660 crores, subject to adjustments 

Team Members: Dibyanshu (Partner), Prateek Bhandari (Principal Associate), Sagar BM (Senior Associate), Nikesh Tyagi (Senior Associate) 

Role of Firm:: Khaitan advised FRV Group in drafting, negotiating and finalising the transaction documents for sale of 100% stake in FRV Andhra Pradesh Solar Farm-I Private Limited & FRV India Solar Park II – Private Limited.

Other legal advisors: if any with names of Lead Lawyers Cyril Amarchand Mangaldas