Shardul Amarchand Mangaldas advises HDFC Bank in granting financial assistance to Torrent Gas Jaipur Private Limited for an amount aggregating to INR 2143 Crore
March 27, 2023
Shardul Amarchand Mangaldas & Co. advised HDFC Bank in granting financial assistance by way of a rupee term loan facility to Torrent Gas Jaipur Private Limited. The assistance was availed by the Borrower for the purpose of, inter alia, part financing the laying, building, operating and expanding of the city gas distribution (CGD) network and associated ancillary infrastructure in the geographical area of Alwar (Other than Bhiwadi) and Jaipur Districts as awarded by PNGRB. The deal was valued approximately at USD 259.2 million and the expected date of closing the deal was 21st March 2023.
Torrent Group has forayed into City Gas Distribution business to meet the critical need of Green Fuel in different parts of India. Their presence is in 17 Geographical areas, spreading across 34 districts covering 7 States and 1 UT in India and are committed to making Natural Gas widely available to people in the areas of its authorization.
The Transaction team was led by Debashree Dutta, Partner; Arijit Sarkar, Principal Associate; Anshuman Roy, Senior Associate; and Nikita Hora, Associate