AZB & Partners: Senior Partners Varoon Chandra and Agnik Bhattacharyya Lead Legal Advisory for Offer for Sale Transaction
AZB & Partners recently provided legal counsel to the President of India, acting through the Ministry of Power (“Seller“), in the sale of 356,626,218 equity shares representing approximately 3.55% of NHPC Limited’s total paid-up equity share capital. The transaction amounted to INR 23.56 billion and was executed through an offer for sale on the stock exchange.
The legal team from AZB advising the Seller included Senior Partners Varoon Chandra and Agnik Bhattacharyya, Counsel Rahul Aggarwal, and associates Rajat Chadha and Harsh Vardhan Singh.
The Ministry of Power, a government department in India, is currently led by Union Cabinet Minister Raj Kumar Singh. Its responsibilities include the supervision of electricity generation, transmission, and distribution infrastructure, as well as the management of maintenance initiatives.
Functioning as an intermediary between the central government, state electricity entities, and private sector stakeholders, the ministry facilitates coordination in power-related activities. Additionally, it plays a crucial role in overseeing initiatives for rural electrification.
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