Shardul Amarchand Mangaldas advises GMR Airports Limited and GMR Visakhapatnam International Airport Limited on an investment of approximately ₹675 crore

January 3, 2024

Shardul Amarchand Mangaldas advised GMR Airports Limited and GMR Visakhapatnam International Airport Limited (“GVIAL”), in relation to the investment by National Investment and Infrastructure Fund (“NIIF”) in GVIAL. The deal was valued approximately at ₹675 crore and was signed on 21 December 2023.

GVIAL is an airport concession entity engaged in the business of development, operation and maintenance of a greenfield international airport at Bhogapuram, Vizianagaram on a design, build, finance, operate and transfer (DBFOT) basis.

The transaction team was led by Jatin Aneja, Partner and National Practice Head, Projects and Infrastructure; Kushal Sinha, Partner; Dhrupad Pant, Partner; and Riya Jain, Associate. Special thanks to V R Neelakantan, Partner for concession-related advice.

Talwar Thakore & Associates (TT&A) advised National Investment and Infrastructure Fund on the legal aspect.