Dilip Buildcon Sells Stake in Power Project for ₹2,914 Cr
Dilip Buildcon Ltd (DBL) has executed definitive agreements to divest its stake in Mekhali Power Transmission Limited (MPTL), an under-construction power transmission project, to Alpha Alternatives. The total project cost is approximately ₹2,171 Cr. DBL and Alpha Alternatives will jointly fund the equity portion (51:49 ratio). Alpha Alternatives will acquire DBL's 51% stake post-commissioning, valuing the buyout at an enterprise value of approximately ₹2,914 Cr. This move aligns with DBL's 'DBL 2.0' strategy for capital recycling, balance sheet deleveraging, and building an asset-light platform. The project involves developing a 400 kV, 470 km transmission line in Karnataka, with commercial operations targeted for mid-2028.
Key Highlights
- DBL divests stake in Mekhali Power Transmission SPV to Alpha Alternatives.
- Buyout valued at enterprise value of ~₹2,914 Cr, subject to adjustments.
- Transaction advances DBL's asset-light strategy and deleveraging goals.
- Joint equity funding of ₹429 Cr in 51:49 ratio (DBL:Alpha Alternatives).
Price Impact
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