Shardul Amarchand Mangaldas advises GMR Energy Limited on divestment of stake in three SPVs operating power plants to synergy Investments

August 13, 2025

Shardul Amarchand Mangaldas & Co. acted as the Indian legal advisor to GMR Group on the strategic divestment of majority stake in stressed assets, including, GMR Bajoli Holi Hydropower Private Limited, GMR Rajahmundry Energy Limited, GMR Vemagiri Power Generation Limited, to Synergy Investments Holding Limited, in a cross-border transaction involving parties headquartered in India and the United Arab Emirates.

This transaction will allow the GMR Group to execute the proposed one-time settlement with the lenders of GMR Rajahmundry Energy Limited, reduce debt by INR 4,400 crore, and strategically spin off non-operational gas-based plants and other stressed assets from its portfolio.

The Transaction team was led by V.R. Neelakantan, Partner; Samridha Neupane, Partner; Sourav Naug, Senior Associate; Siddharth Jain, Senior Associate; Manmay Mridul, Senior Associate and Madhvi Vangani, Associate.