Bajel Projects Limited has informed the Exchange about the Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Execution of binding Collaboration Agreement with National Investment and Infrastructure Fund (NIIF) and Anantgrid Private Limited (Anantgrid)
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Bajel Projects has signed a binding collaboration agreement with National Investment and Infrastructure Fund (NIIF) and Anantgrid Private Limited (a 100% NIIF subsidiary) to jointly bid for and develop power transmission projects in India. Under the framework, Bajel will hold a 26% equity stake in each project SPV, while NIIF and its affiliates will hold the remaining 74%. Bajel will lead engineering, procurement, construction and execution, NIIF will lead funding, investment and asset management, and Anantgrid will lead business development and project management. The collaboration targets India's 500GW renewable energy goal by 2030 and growing power demand requiring transmission infrastructure. The deal is not a related party transaction. Avener Capital advised Bajel on the collaboration.
Positive for shareholders — partnering with India's largest domestic infrastructure fund (NIIF, managing over USD 5 billion) gives Bajel access to large project opportunities and capital, potentially expanding its order book beyond pure EPC into co-developed transmission assets. The 26% stake means Bajel also benefits from asset ownership upside, not just construction fees.