Key Transaction Details
KP Group has signed a Non-Binding Letter of Intent (LOI) with Raz Holding Group, a leading diversified conglomerate from the Kingdom of Saudi Arabia. The LOI records Raz Holding Group's intention to make a strategic investment in and/or collaboration with KP Group and/or one or more of its operating entities.
Proposed Transaction Structure
The contemplated investment/collaboration may be effected by way of acquisition(s), capital infusion or collaboration. The final structure, instrument, and valuation are to be mutually agreed between the parties following completion of due diligence.
Conditions Precedent
The proposed strategic investment and/or collaboration is subject to:
- Satisfactory completion of financial, legal, tax, technical & ESG due diligence
- Negotiation and execution of definitive & legally binding agreements
- Necessary corporate, board & shareholder approvals of both parties
- All applicable regulatory and other customary approvals including under FEMA/RBI, SEBI and competition-law requirements
LOI Status and Timeline
The LOI is non-binding in its entirety and does not create any obligation on either party to proceed. The parties intend to work towards definitive agreements within an exclusivity period of ninety (90) days from the date of the LOI, which remains valid until November 18, 2026, unless extended by mutual written agreement.
Strategic Rationale
For KP Group, this LOI reflects growing international investor interest in India's clean-energy sector and in the Group's portfolio across:
- Solar and Wind IPP
- EPC services
- Transmission and manufacturing
- Emerging positions in battery energy storage systems
- Cell manufacturing
- O&M services
- Green hydrogen
Management Commentary
Dr. Faruk G. Patel, Founding Promoter of KP Group, stated: "The interest shown by Raz Holding Group is a strong endorsement of the quality of the assets we have built over three decades and of the long-term opportunity in India's energy transition. International capital is looking closely at Indian clean-energy platforms today, and we are pleased that a group of Raz Holding Group's standing sees KP Group as a partner of choice."
Company Background
KP Group: Established in 1994 by Dr. Faruk G. Patel, the group has grown into a multi-faceted conglomerate with core expertise in renewable energy, infrastructure, and innovation. The group has championed sustainability through transformative projects in wind, solar, hybrid energy, BESS and green hydrogen.
Raz Holding Group: Established in 2008, the Saudi conglomerate has interests spanning investments, real estate and hospitality, finance and fintech, consulting, artificial intelligence, healthcare, education, defence, media and communications, creative industries and culture, film production, and event management.