Shardul Amarchand Mangaldas & Co. advises Ethereal Exploration Guild Private Limited on acquisition of industrial land in Tirupati for its rocket engine and launch vehicle manufacturing facility

September 22, 2026

Shardul Amarchand Mangaldas & Co. (SAM) advised Ethereal Exploration Guild Private Limited (“Ethereal”) in connection with an agreement for sale entered into with the Andhra Pradesh Industrial Infrastructure Corporation Limited (“APIIC”) for an industrial land parcel admeasuring 142.3 acres, situated in Routhsuramala Village, Tirupati District, Andhra Pradesh.

Ethereal intends to utilise the land to establish a large-scale, integrated manufacturing and testing facility for rocket engines and launch vehicles, with a proposed investment of approximately ₹578.39 crore.

SAM advised Ethereal on the review of revenue documents, and the negotiation and finalisation of the agreement for sale with APIIC. The Firm also advised Ethereal in relation to various other aspects of the transaction.

The SAM team comprised Mrinal Kumar (Partner), Arnav Sahni (Partner), and Aman Gupta (Senior Associate).