{"id":279007,"date":"2022-12-02T18:30:56","date_gmt":"2022-12-02T13:00:56","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=279007"},"modified":"2022-12-02T15:53:33","modified_gmt":"2022-12-02T10:23:33","slug":"khaitan-co-advises-atha-group-on-acquisition-by-blupine-energy-private-limited-backed-by-actis-pe-of-the-100-stake-in-the-atha-group-entities","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/02\/khaitan-co-advises-atha-group-on-acquisition-by-blupine-energy-private-limited-backed-by-actis-pe-of-the-100-stake-in-the-atha-group-entities\/","title":{"rendered":"Khaitan &#038; Co advises Atha Group on acquisition by BluPine Energy Private Limited, backed by Actis PE of the 100% stake in the Atha Group entities"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"text-indent: 18pt;\">&#160; &#160;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: bold;\">DEAL DETAILS<\/span><\/p>\n<table style=\"border-bottom-style: none; border-left-style: none; border-right-style: none; border-collapse: collapse; border-top-style: none; margin-left: 0.16mm; margin-right: auto; table-layout: auto; width: 198.84mm;\">\n<colgroup>\n<col width=\"751\"\/><\/colgroup>\n<tbody>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"background-color: #d3d3d3; border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 198.84mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\"><span style=\"font-weight: bold;\">Atha Group | Acquisition by BluPine Energy Private Limited<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border-bottom-style: none; border-left-style: none; border-right-style: none; border-collapse: collapse; border-top-style: none; margin-left: 0.16mm; margin-right: auto; table-layout: auto; width: 198.84mm;\">\n<colgroup>\n<col width=\"63\"\/>\n<col width=\"266\"\/>\n<col width=\"423\"\/><\/colgroup>\n<tbody>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"background-color: #d3d3d3; border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm; text-align: center;\"><span style=\"font-weight: bold;\">NO<\/span><\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"background-color: #d3d3d3; border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm; text-align: center;\"><span style=\"font-weight: bold;\">HEADINGS<\/span><\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"background-color: #d3d3d3; border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm; text-align: center;\"><span style=\"font-weight: bold;\">DETAILS<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">1.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Sector<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Infrastructure: Solar<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">2.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Announcement Date<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">24-Nov-2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">3.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Completion Date<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">24-Nov-2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">4.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Name of Client<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Atha Group<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">5.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Acquirer and buyer Details<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\"><span>Blupine Energy Private Limited | India | Acquirer <br \/>Solarcraft Power Private Limited | Mauritius | Buyer <br \/>Solarcraft Power LUX 2 S.&Agrave; R.L | Luxembourg | Buyer <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">6.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Seller Details<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\"><span>Narbheram Vishram | India <br \/><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">7.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Deal Description<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Acquisition by BluPine Energy Private Limited, a renewable wind and solar power developer, backed by Actis PE of the 100% stake in the Atha Group entities comprising of: AMPL Cleantech Private Limited, NVR Energy Private Limited and Narbheram Solar TN Private Limited. The total acquisition portfolio comprises of 404 MWp renewable capacity, which is spread across six states and supplies power to central and state utilities under long-term contracts.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">8.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Total Consideration<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">INR 2100 crore (USD 259 million)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">9.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Team Members<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">The core team consisted of Haigreve Khaitan (Senior Partner), Akhil Bhatnagar (Partner), Arva Merchant (Partner), Shantanu Gupta (Partner), Nimisha Trehan (Principal Associate), Bhagirath Ashiya (Senior Associate), Palak Mohta (Associate), Rahul Pai (Associate)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">10.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Role of Firm<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Khaitan &amp; Co was involved in the (a) vendor due diligence of the target SPVs for the transaction and (ii) structuring, drafting, negotiating and finalizing the transaction documents.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">11.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Financial Advisors<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Avendus Capital<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">12.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Other legal advisors if any with names of Lead Lawyers<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Harsh Pais, Trilegal<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">13.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Unique Feature of Transaction<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">The transaction has been executed via BluPine Energy, a renewable wind and solar power generation and storage business in which Actis has committed to invest USD 800 million through its Energy 5 Fund. The acquisition has enabled Atha Group to unlock the value created from its investments in the renewable power sector for over a decade.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">14.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Quotation by Team Leader<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n&nbsp; <\/td>\n<\/tr>\n<tr>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 16.55mm;\">\n<p style=\"text-align: center;\">15.<\/p>\n<p>&nbsp; <\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 70.44mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Quotation by the Client<\/p>\n<\/td>\n<td valign=\"top\" colspan=\"1\" style=\"border-bottom-width: 0.85pt; border-bottom-style: solid; border-bottom-color: #000000; border-left-width: 0.85pt; border-left-style: solid; border-left-color: #000000; border-right-width: 0.85pt; border-right-style: solid; border-right-color: #000000; border-top-width: 0.85pt; border-top-style: solid; border-top-color: #000000; padding-bottom: 0.69mm; padding-left: 0.69mm; padding-right: 0.69mm; padding-top: 0.69mm; vertical-align: top; width: 111.86mm;\">\n<p style=\"line-height: normal; margin-bottom: 0.0mm;\">Gaurav Atha, Promoter, Atha Group said, &#8220;Non-fossil fuel based power generation is key to India achieving its net-zero emissions goal and Atha Group is proud to have contributed towards this goal. Mergers and Acquisitions is a core part of the Atha Group strategy to create value for its stakeholders. We wish Actis all the success.&#8221;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#160; &#160; DEAL DETAILS Atha Group | Acquisition by BluPine Energy Private Limited NO HEADINGS DETAILS 1. &nbsp; Sector Infrastructure: Solar 2. <\/p>\n","protected":false},"author":8808,"featured_media":279016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45282,2],"tags":[53351,5821,49835],"class_list":["post-279007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firms-news","category-news","tag-atha-group","tag-khaitan-and-co","tag-law-firm-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Khaitan &amp; Co advises Atha Group on acquisition by BluPine Energy Private Limited, backed by Actis PE of the 100% stake in the Atha Group entities | SCC Times<\/title>\n<meta name=\"description\" content=\"Atha Group | Acquisition by BluPine Energy Private Limited\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/02\/khaitan-co-advises-atha-group-on-acquisition-by-blupine-energy-private-limited-backed-by-actis-pe-of-the-100-stake-in-the-atha-group-entities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Khaitan &amp; 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