J. Sagar Associates (JSA) advised British Asian Trust (BAT) in connection with implementing a ‘development impact bond’ (DIB) structure worth USD 11 million to improve the educational outcome of 300,000 students in Delhi and Gujarat. This DIB, an innovative financing model where funding is hinged on measurable outcomes of the relevant social projects, has been cited as the largest education DIB in the world.
The DIB has been implemented by BAT in partnership with other philanthropic foundations such as Michael and Susan Dell Foundation, Tata Trust and UBS Optimus Foundation.
The JSA team included: Partner – Probir Roy Chowdhury, Senior Associate – Sherill Pal and Associate – D Divyanshu.
Probir specializes in Corporate Commercial, Venture/Private Equity and Information Technology/FinTech. He has been involved in corporate transactions focused on the high technology industry including cross border Mergers & Acquisitions.