Shardul Amarchand Mangaldas advises GMR Airports Limited and GMR Goa International Airport Limited in relation to investment by National Investment and Infrastructure Fund

May 2, 2023

Shardul Amarchand Mangaldas advised GMR Airports Limited and GMR Goa International Airport Limited (“GGIAL”), in relation to investment by National Investment and Infrastructure Fund (“NIIF”) by way of subscription to Compulsory Convertible Debenture (CCD) in GGIAL, an airport concession entity engaged in the business of development, operation and maintenance of a greenfield international airport at MOPA, Goa on a design, build, finance, operate and transfer (DBFOT) basis. The date of closing the deal was 25 April 2023.

The transaction is NIIF’s first investment in an airport asset in the country and its first direct investment in the state of Goa.

The transaction team was led by Jatin Aneja, Partner, and National Practice Head, Projects and Infrastructure; Kushal Sinha, Partner; Dhrupad Pant, Principal Associate; Rishab Chaudhary, Associate; Tanusmita Ghosal, Associate; and Shamik Gupta, Associate.

Talwar Thakore & Associates (TT&A) advised NIIF on the legal aspects.