Reliance’s Acquisition of a Stake in Sterling & Wilson Solar

AZB & Partners (AZB) and Krishnamurthy & Co (K Law) advised Reliance New Energy Solar, Khaitan & Co. advised Reliance Industries Limited, while Desai & Diwanji advised Sterling & Wilson Solar and the selling shareholders, Shapoorji Pallonji and Company and Khurshed Daruvala, chairman of Sterling & Wilson.

Reliance New Energy Solar, a subsidiary of Reliance Industries, agreed to a INR2.85 billion ($385 million) acquisition of a 40% stake in Sterling & Wilson Solar, a Shapoorji Pallonji group company.

Sterling And Wilson Solar Limited provides diversified services. The Company engages in diesel generations, mechanical, electrical, and plumbing (MEP), hybrid and energy storage, swcogen, transmission and distribution, and data centers services. 

The AZB & Partners team consisted of partners Ashwath Rau (Picture), Pranav Atit and Nikunj Maheshwari and senior associates Sneha Nagvekar and Dhruv Mairal.

K Law’s team comprised its founder and managing partner, Naina Krishna Murthy, partners Rukmini Roychowdhury and Alok Sonker, associate partner Mitesh Shah, principal associate Suvaaankoor Das, senior associate Rohaneel Mohite, and associates Ankita P Rajesh, Avani Jain and Mahaveer Rajguru.

The Khaitan & Co. team was led by Sudhir Bassi (Executive Director), Arindam Ghosh (Partner), Shashank Patil (Principal Associate), Anvita Mishra (Senior Associate), Jayantika Khanna (Associate) and Yash Bhagwat (Associate).

The Desai & Diwanji team included partners Apurva Diwanji and Aneesh Gupte, with assistance from associate partner Sameer Patel and associate Alister Sequeira. Partners Natasha Treasurywala and Rahul Chauhan, and associate Nikita Hora also advised.

Involved fees earner: Pranav Atit – Azb & partners; Nikunj Maheshwari – Azb & partners; Dhruv Mairal – Azb & partners; Sneha Nagvekar – Azb & partners; Ashwath Rau – Azb & partners; Rahul Chauhan – Desai & Diwanji; Apurva Diwanji – Desai & Diwanji; Aneesh Gupte – Desai & Diwanji; Nikita Hora – Desai & Diwanji; Sameer Patel – Desai & Diwanji; Alister Sequeira – Desai & Diwanji; Natasha Treasurywala – Desai & Diwanji; Sudhir Bassi – Khaitan & Co.; Yash Bhagwat – Khaitan & Co.; Arindam Ghosh – Khaitan & Co.; Jayantika Khanna – Khaitan & Co.; Anvita Mishra – Khaitan & Co.; Shashank Patil – Khaitan & Co.; Suvaaankoor Das – Krishnamurthy & Co. (K Law); Avani Jain – Krishnamurthy & Co. (K Law); Rohaneel Mohite – Krishnamurthy & Co. (K Law); Naina Krishna Murthy – Krishnamurthy & Co. (K Law); Ankita Rajesh – Krishnamurthy & Co. (K Law); Mahaveer Rajguru – Krishnamurthy & Co. (K Law); Rukmini Roychowdhury – Krishnamurthy & Co. (K Law); Mitesh Shah – Krishnamurthy & Co. (K Law); Alok Sonker – Krishnamurthy & Co. (K Law);

Law Firms: Azb & partners; Desai & Diwanji; Khaitan & Co.; Krishnamurthy & Co. (K Law);

Clients: Khurshed Daruvala; Reliance Industries Limited; Reliance New Energy Solar; Shapoorji Pallonji & Co Pvt Ltd; Sterling and Wilson Solar Limited;