JSA and Cyril Amarchand Mangaldas (CAM) advised on National Highways Infra Trust’s ₹65,910.10 million fundraise.
JSA Advocates & Solicitors advised National Highways Infra Trust, a private InvIT sponsored by NHAI, on its fund-raising aggregating to ₹65,910.10 million through a combination of institutional placement, preferential issue of units, and external debt.
As part of the transaction, the InvIT acquired concession rights over two road assets with a total length of approximately 310.359 kilometres. The fundraise is in furtherance of NHAI’s ongoing disinvestment and asset monetisation strategy. This marks the fifth fundraise by National Highways Infra Trust, with JSA advising on all five transactions.
The capital markets team at JSA was led by Partner Arka Mookerjee and supported by Partners Pracheta Bhattacharya and Sourav Modi, along with Senior Associates Jeebitesh Bhattacharya and Bhavna Sancheti.
The finance team was led by Partner Soumitra Majumdar, with support from Principal Associates Aradhana Dey and Deboshree Mukherjee, and Associate Tanay Bothra.
CAM advised SBI Capital Markets Limited, Axis Capital Limited, ICICI Securities Limited, IIFL Capital Services Limited, Nuvama Wealth Management Limited, A.K. Capital Services Limited, Tipsons Consultancy Services Private Limited and Trust Investment Advisors Private Limited, as lead managers, in relation to this transaction.
The transaction team at Cyril Amarchand Mangaldas was led by Senior Partner Yash J Ashar and Partner Kranti Mohan (Head – REIT and InvITs), with support from Principal Associate Sarvpriya Mishra, Senior Associate Saksham Khokhar, and Associates Arjun Nair, Parikha Rathi and Nilay Raj.
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