Shardul Amarchand Mangaldas & Co (SAM & Co) advised on Prism Cement limited on the acquisition of 15.23% stake in BLA Power Private Limited for Rs. 25 Crore. Following the transaction Prism Cement will be able to acquire power from BLA Power on captive power plant basis.

Shardul Amarchand Mangaldas & Co Team advised Prism Cements on all aspects of the transactions, including drafting/reviewing of the power sale agreement, framework and security deposit agreement, subscription agreement, shareholders agreement, escrow agreement and ancillary documents. The Projects Team was led by Deepto Roy, Partner, and included Mr. Jay Parikh, Partner; Ms. Vishaka Prasad, Principal Associate; Ms. Anjali Viswamohanan,Associate.

As a part of the transaction, the Shardul Amarchand Mangaldas & Co team advised Prism Cement Limited on structuring of the transaction, from investment and electricity law perspective, for the purchase of power by Prism Cement Limited on a captive basis from BLA Power Private Limited. Under this arrangement, Prism Cements acquires 15.23% stake in BLA Power Private Limited, such that its shareholding constitutes at least 26% (twenty six percent) of the proportionate equity of BLA related to Unit-1(out of its 3 Units of 45 MW each) to enable Prism Cement Limited to qualify as a captive consumer of power from such Unit.