"Goldi Solar Secures ₹1,422 Crore Investment and Strategic Partnership with Havells"

"Goldi Solar Private Limited, India's largest solar PV module manufacturer, raised ₹1,422 crore in a fundraise led by Havells India Limited, alongside other high-net-worth individuals and investors. The deal also established a strategic partnership with Havells, including a dedicated 1 GW module manufacturing capacity under the Havells brand. Saraf and Partners advised Goldi Solar on all aspects of the transaction, including structuring, documentation, and obtaining necessary approvals."

Saraf and Partners acted as legal advisors to Goldi Solar Private Limited and its promoter, Ishverbhai Dholakiya, in a significant transaction involving a fundraise of ₹1,422 crore. The transaction also included a strategic partnership with Havells India Limited. The deal was led by Havells India Limited and saw participation from various high-net-worth individuals and investors, including Ambit Wealth Private Limited, NSFO Ventures LLP, Karmav Real Estate Holdings LLP, SRF Transnational Holdings Limited, Nikhil Kamath, Godwitt Construction Private Limited, and Shahi Exports Private Limited. As part of the partnership, Goldi Solar agreed to install a dedicated module capacity of 1 gigawatt for manufacturing modules under the Havells brand name. The transaction was led by Navomi Koshy (Partner) from Saraf and Partners, with support from Rupam Das and Abhishek Jasuja (Associates). Akshayy S Nanda (Partner) and Tanya Vats (Associate) provided expertise on competition-related aspects and led the process for obtaining the necessary composite approval from the Competition Commission of India (CCI). Saraf and Partners advised on all aspects of the deal, including structuring, secretarial assistance, documentation, conditions precedents, fund flows, anti-trust requirements, and coordination with various investors.

"Goldi Solar Secures ₹1,422 Crore Investment and Strategic Partnership with Havells"

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