Dilip Buildcon Agrees to Sell Stake in Under-Construction Power Transmission & Solar Projects to Alpha Alternatives

Dilip Buildcon Limited (NSE: DBL; BSE: 540047) ("Company"/"DBL"), one of India's leading multi-asset infrastructure companies, today announced that its Board of Directors, at its meeting held on August 10, 2026, approved the proposal to divest its stake in Mekhali Power Transmission Limited and DBL Renewable Private Limited, the SPVs undertaking the Company's under-construction power transmission and solar projects respectively to Alpha Alternatives Fund Advisors LLP and/or its affiliates and/or funds managed by Alpha Alternatives Fund Advisors LLP ("Alpha Alternatives"). The combined total project cost is approximately ₹8,400 Cr.

Mekhali Power Transmission Limited is engaged in developing, designing and engineering a 400-kilovolt sub-station power transmission project extending to approximately 470 circuit kilometres situated in Belagavi District, Karnataka.

DBL Renewable Private Limited is engaged in the development, design and engineering of a 1,363 MW (AC) / 1,977 MWp (DC) solar portfolio, comprising 10 SPVs with solar assets across Madhya Pradesh.

The consideration for the transaction will be determined through a phased subscription and closing mechanism, in accordance with the terms agreed between the parties. The definitive agreements for the transaction are yet to be signed.

The divestment represents a value-unlocking opportunity for DBL and is aligned with the Company's strategy of building an asset-light, multi-asset development platform focused on generating recurring cash flows and enabling capital recycling for reinvestment in new opportunities. The transaction also supports the Company's continued efforts to deleverage and strengthen its balance sheet, while further deepening its existing long-term partnership with Alpha Alternatives.

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."

Speaking on the development, 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 is subject to the execution of definitive agreements, fulfilment of the terms and conditions set out therein, and receipt of requisite regulatory approvals.

JM Financial Limited acted as the exclusive financial advisor to Dilip Buildcon for the transaction, while Khaitan & Co acted as the legal advisor to DBL.

Shares of Dilip Buildcon Limited was last trading in BSE at Rs. 443.80 as compared to the previous close of Rs. 449.55. The total number of shares traded during the day was 118031 in over 2454 trades.

The stock hit an intraday high of Rs. 454.25 and intraday low of 414.00. The net turnover during the day was Rs. 50958482.00.

Source : Equity Bulls

Keywords

DilipBuildcon INE917M01012 StakeSale PowerTransmission SolarProjects AlphaAlternativesFundAdvisorsLLP