28 Apr 2026
Deal: Trilegal advised JSW Cement on the sale of Vadraj Energy to Nirma Group’s Nuvoco Vistas
19 Nov 2025
19 Nov 2025
Trilegal advised JSW Cement Limited (JSW Cement) on the proposed sale of its securities in Algebra Endeavour Private Limited (Algebra), the holding company of Vadraj Energy (Gujarat) Limited (Vadraj Energy), to Nuvoco Vistas Corporation Limited (Nuvoco). Algebra is engaged in advisory and investment activities and its wholly owned subsidiary, Vadraj Energy, operates power plants in Kutch and Surat.
The transaction is structured as a secondary purchase of 100% of the securities of Algebra. JSW Cement, along with Alpha Alternatives Holdings Private Limited, the second seller, will receive a total consideration of INR 200 crore for the transaction.
The closing of the transaction is expected to take place within 10 days from the completion of the conditions precedent under the definitive agreements.
JSW Cement is one of the top Indian cement manufacturers, recognised for its rapid growth, specialisation in green cement solutions and notable presence across India.
Earlier this year, Nuvoco acquired Vadraj Cement Limited for INR 1800 crore pursuant to a resolution plan approved by the National Company Law Tribunal. Nuvoco plans to integrate Vadraj Energy’s installations into its own power network to support captive consumption at its cement facilities.
Trilegal’s scope of work includes reviewing, negotiating, and finalising the definitive agreements and advising on all aspects of the transaction.
The Trilegal Corporate team advising on the matter was led by Partner: Kosha Thaker; and included Senior Associate: Adit Munshi; and Associate: Tanisha Chivate.
About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With 150 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,200 professionals across Mumbai, Delhi, Bengaluru, and Gurugram offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com
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