Shardul Amarchand Mangaldas advises State Bank of India and Axis Bank Limited in connection with a term loan facility of INR 1025 Crore granted to Shree Jagannath Expressways Private Limited

January 18, 2023

Shardul Amarchand Mangaldas & Co. advised State Bank of India and Axis Bank Limited in granting a term loan facility to Shree Jagannath Expressways Private Limited in relation to six laning of Chandikhole-Jagatpur-Bhubaneswar Section of NH-5 from 413 km to 418.00 km and 0 km to 62 km (Length – 67 Km) in the State of Odisha. Shree Jagannath Expressways Private Limited is a special purpose company acquired by the Indian Highway Concessions Trust, an Infrastructure Investment Trust (InvIT) sponsored by CDPQ Group. The deal is valued at INR 1023 Crores and the date of closing was 8 December, 2022.

The Transaction team was led by Anurag Dwivedi, Partner; Shruti Paras, Senior Associate; Chaitanya Kashyap, Associate.

Cyril Amarchand Mangaldas advised Shree Jagannath Expressways Private Limited (SPV) and Indian Highway Concessions Trust (Sponsor) acting through its Investment Manager viz. Maple Infra InvIT Investment Manager Private Limited.