Shardul Amarchand Mangaldas Advises HDFC Bank Limited on ₹455 Crore Financing of Deoghar Ring Road Project

February 11, 2026

Shardul Amarchand Mangaldas & Co. acted as legal counsel to HDFC Bank Limited, along with Punjab National Bank, in connection with the ₹455 crore rupee term loan financing for the Deoghar Ring Road Project, implemented by Deoghar Ring Road Project Private Limited under a concession-based road development framework.

The transaction involved a senior secured rupee term loan facility led by HDFC Bank Limited to part-finance the estimated project cost of ₹999.52 crore for the development of the Deoghar Bypass / Ring Road project. The project is being developed by Deoghar Ring Road Project Private Limited and is promoted by Power Mech Projects Limited.

The SAM transaction team was led by Anurag Dwivedi, Partner, with support from Prince Singh, Principal Associate; Shashwat Bhaskar, Senior Associate; Amogh Mittal, Associate; and Palak Jhalani, Associate.