Dilip Buildcon Sells Power Transmission & Solar Projects Stake

Dilip Buildcon Limited (DBL) has announced the approval to divest its stake in two Special Purpose Vehicles (SPVs), Mekhali Power Transmission Limited and DBL Renewable Private Limited, to Alpha Alternatives. These SPVs are involved in under-construction power transmission and solar projects with a combined project cost of approximately ₹8,400 Cr. The divestment includes a 400 kV transmission project in Karnataka and a 1,363 MW (AC) solar portfolio across Madhya Pradesh. This move aligns with DBL's 'DBL 2.0' strategy, focusing on an asset-light model, capital recycling, and balance sheet deleveraging. The consideration will be paid through a phased subscription mechanism, with definitive agreements yet to be signed. JM Financial Limited acted as the financial advisor, and Khaitan & Co as the legal advisor for DBL.