AZB led on Grid Equipments and GE Grid Alliance Successful Offer for Sale of 40 Million Shares via Stock Exchange Mechanism
AZB & Partners recently provided legal counsel to Grid Equipments Private Limited and GE Grid Alliance B.V. (formerly Alstom Grid Holding B.V.) (“Sellers”) in connection with the sale of 40,000,000 equity shares, representing approximately 15.62% of the total paid-up equity share capital of GE T&D India Limited, for a total consideration of INR 59.23 billion. The sale was executed through the stock exchange mechanism via an offer for sale.
The deal team included Senior Partners Niladri Maulik and Agnik Bhattacharyya, Partner Rahul Aggarwal, Senior Associates Rohit Dutta and Kairav Parikh, and Associates Nishita Agrawal and Yagnesh Sharma.
GE T&D India has been tasked to complete supplies, erection and commissioning by January 2026, it said in an exchange filing. The total value of the order is said to be ₹490 crore, excluding the 18% GST that will be levied.
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