Khaitan & Co advised Suzlon Energy Limited (Suzlon), a renewable energy services provider, in relation to the acquisition of 51% of the equity share capital of Renom Energy Services Private Limited (Renom) from the Sanjay Ghodawat Group (SGG). Renom is the largest multi-brand operations and maintenance service provider in India. With the said acquisition, Renom has now become a subsidiary of Suzlon.
Suzlon had earlier announced that it has executed definitive agreements to acquire a 76% of the equity share capital of Renom for INR 660 crore in two tranches from SGG. It has completed the first tranche of acquisition by acquiring 51% of the equity share capital of Renom on 6 September 2024. The second tranche is contemplated to be completed within a period of 18 months from 6 September 2024.
The core transaction team comprised of Sanchit Agarwal (Partner), Pulkit Chaturvedi (Principal Associate), Jubin Jay (Senior Associate) and Shatakshi Gupta (Senior Associate). The core team was assisted by the following:
In relation to the transaction structuring and public market
regulations’ related aspects: Abhishek Dadoo (Partner),
Radhika Iyer (Partner), Shailendra Bhandare (Partner), Jitender
Singh Shekhawat (Principal Associate), and Gaurang Mansinghka
(Associate).
In relation to the due diligence related aspects: Atman Jwalant Desai (Partner), Devanshi Dalal (Principal Associate), Surabhi Vats (Senior Associate), Akshat Kothari (Associate), Hetashri Khajanchi (Associate) and Shivangi Mishra (Associate).
In relation to the banking and finance related aspects: Mohit
Kishore (Counsel) and Shobhit Batta (Senior Associate).
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