Dilip Buildcon Limited (DBL), one of India’s leading multi-asset infrastructure companies, announced that its Board has approved the proposed divestment of its stake in two SPVs undertaking under-construction power transmission and solar projects to Alpha Alternatives Fund Advisors LLP and/or its affiliates and funds managed by it.
The proposed transaction covers projects with a combined cost of approximately ₹8,400 crore. The portfolio includes a 400 kV transmission project spanning around 470 circuit kilometres in Belagavi, Karnataka, and a 1,363 MW (AC)/1,977 MWp (DC) solar portfolio comprising 10 SPVs across Madhya Pradesh.
The consideration will be paid through a phased subscription and closing mechanism. Definitive agreements are yet to be signed.
The transaction supports DBL’s “DBL 2.0” strategy of building an asset-light, multi-asset infrastructure platform, while enabling capital recycling and balance sheet deleveraging.
Mr. Kaushal Biyani, Senior Partner and Head, Private Markets, Alpha Alternatives, said, “This transaction reaffirms our confidence in our strategic partner, Dilip Buildcon, and its strong execution capabilities across infrastructure sectors. We continue to deepen our investment in high-quality, long-term infrastructure assets and see strong growth potential in India’s power and renewable energy sectors. We are committed to supporting India’s infrastructure development while creating sustainable, long-term value for our investors.”
Mr. Devendra Jain, Managing Director & CEO, Dilip Buildcon Limited, said, “This transaction marks an important milestone in our DBL 2.0 journey as we build a multi-asset infrastructure platform anchored by long-duration, contracted assets. Our partnership with Alpha Alternatives across these transmission and solar projects enables us to recycle capital early in the asset lifecycle, while maintaining our disciplined focus on strengthening our balance sheet and building a more asset-light business.”
The transaction remains subject to definitive agreements, applicable conditions and regulatory approvals.
