Anagram Partners has advised NSE-listed Bajaj Electricals on the demerger of its power transmission and distribution businesses, creating independent entity Bajel Projects Limited valued at INR12.6 billion (USD152 million).
Originally forming part of Bajaj Electricals’ EPC segment, Bajel Projects maintained growth during its 15 years with its parent. Following the demerger, Bajel Projects was listed on the BSE and NSE.
Arka Banerjee, lead partner of Anagram’s transaction team, said: “It was a pleasure working with the Bajaj team to help them achieve the demerger and consequent listing of Bajel Projects on both the BSE and NSE, and the successful listing is a testament to the collaborative efforts and strategic planning that characterised this demerger.
“The entire process involved navigating key challenges such as obtaining relevant third-party approvals, addressing shareholder interests, and ensuring a smooth transition for Bajaj Electricals and Bajel Projects alike.”.
Principal Aditi Tralshawala, and associates Vidhisha Ambade and Anoushka Shetty assisted Banerjee.
The firm also provided strategic counsel on the subsequent issuance of equity shares by Bajel Projects to the existing shareholders of Bajaj Electricals, facilitating the listing of these equity shares on both the BSE and the NSE.
Bajel Projects is now an independent entity and a prominent player in the power infrastructure sector. Bajel Projects is a preferred partner for numerous states, international governments, and private infrastructure projects.
Bajaj Electricals is an Indian consumer electrical equipment manufacturing company based in Mumbai, Maharashtra, and is part of the Bajaj Group.
