In a strategic move, Jupiter International Limited has secured a substantial investment of around ₹300 Crores from ValueQuest SCALE Fund and other investors. This funding, secured through primary subscription, grants the investors a minority stake in the burgeoning solar power company.
The renowned law firm Khaitan & Co played a pivotal role in guiding Jupiter and its promoters through the intricate process. The advisory team was spearheaded by key members including Shourya Sengupta and Arka Banerjee Chowdhury, alongside a robust team of associates.
The firm’s involvement spanned from conducting thorough due diligence to structuring the deal and ensuring all transaction documents were meticulously drafted, reviewed, and finalized. Additionally, Khaitan & Co facilitated the completion of procedural compliance, ensuring a seamless execution of the investment.
Jupiter International Limited is an ambitious solar power solutions provider, specializing in the manufacture of photovoltaic solar cells. Their state-of-the-art facility in Baddi, Himachal Pradesh, boasts a total capacity of 800 MW, featuring both Mono PERC and Multi-crystalline solar cell technologies.
ValueQuest SCALE Fund, part of the ValueQuest Alternate Investment Trust, has been operational since October 2022. It is registered as a category-II alternate investment fund with the Securities and Exchange Board of India (SEBI), and this latest investment marks a significant step in their strategy to back renewable energy initiatives.
