Juris Corp and IC RegFin Legal Partners LLP advised on Newspace Research & Technologies’ issuance of secured and unlisted non-convertible debentures (NCDs) aggregating to ₹130 crores.
Newspace Research & Technologies Private Limited (NRT), is a company engaged in the business of manufacturing of unmanned aerial vehicle and systems used in defence applications, to finance and support the production and delivery of defence equipments.
NRT issued NCDs aggregating to INR 130,00,00,000/- (Indian Rupees One Hundred and Thirty Crores Only) that were secured by way of charge over the assets of NRT including receivables owed by the Ministry of Defence for purchase orders issued by the Ministry of Defence to NRT.
Juris Corp acted as the investor’s counsel and its role involved drafting legal documents, negotiating the terms of the borrowing captured in the transaction documents and reviewing the commercial agreements executed between NRT and the Ministry of Defence. Given the sensitivity of the defence sector, the transaction documents were drafted carefully to ensure that the investors requirements are precisely incorporated and their interests are safeguarded while ensuring that the terms of the financing are as per the requirements of NRT and the investors.
The issuance was led by Juris Corp’s Debt Capital Markets team comprising Equity Partner Apurva Kanvinde along with Associates Harshit Khandelwal, Vanshika Gandhi and Charu Chitransh.
IC RegFin Legal Partners LLP acted as NRT’s counsel.
