Khaitan & Co advised Engineers India Limited in relation to acquisition of 11.7% equity by the consortium of HALDOR TOPSØE A/S (HTAS), Investment Fund for Developing Countries (IFU) and Danish Agribusiness Fund (DAF), all companies incorporated in the Kingdom of Denmark (3.9% each) and acquisition of 14.3% equity by GAIL India Limited (a Government of India undertaking) (GAIL) in the share capital of Ramagundam Fertilizers and Chemicals Limited, a joint venture company of National Fertilizers Limited, Engineers India Limited and Fertilizer Corporation of India Limited. Government of Telangana is also one of the shareholders of RFCL. The deal size including immediate investment and committed capital infusion aggregates to INR 711,453,7010 approximately.

The investment made by HTAS, DAF, IFU and GAIL is in one of the largest urea manufacturing plant being set up in the country, to boost production of urea under the New Investment Policy 2012 of the Govt of India

EIL is a Central Public Sector Enterprise under the administrative Control of Ministry of Petroleum & Natural Gas (MoPNG) and is a leading entity in design, engineering and turnkey contracts, providing a complete range of projects services needed to conceptualize, plan, design, engineer and construct projects to meet the specific requirements in petroleum refining, petrochemicals, fertilizers and chemicals, pipelines, offshore oil and gas, onshore oil and gas, terminals and storages, mining and metallurgy, infrastructure sectors.

Atul Pandey (Partner), Abhishek Sanyal (Principal Associate) and Devesh Pandey (Senior Associate) represented the client on the transaction.