JSA Advocates & Solicitors (JSA) advised Genus Bikana Smart Metering SPV Private Limited, Genus Banas Smart Metering SPV Private Limited, Genus Shekhawati Smart Metering Solutions SPV Private limited, Genus Mewar Smart Metering SPV Private Limited, Genus Braj Smart Metering SPV Private Limited and Genus Marudhara Smart Metering SPV Private Limited, each an SPV of Gemstar Infra Pte. Ltd., as the borrowers’ legal counsel in relation to the financing availed by each SPV through the issuance of debentures to International Finance Corporation and credit facilities from India Infrastructure Finance Company Limited, in connection with smart metering projects in India.
The transaction was noteworthy for its hybrid financing structure involving the simultaneous raising of funds through non-convertible debentures subscribed by International Finance Corporation and rupee loan facilities extended by India Infrastructure Finance Company Limited. The mandate involved the integration of two distinct financing products within a single transaction framework.
The transaction was led by Karan Mitroo, Partner, with support from Ankita Parasar, Partner; Shantanu Awasthi, Senior Associate and Harshil Kakkar, Associate.
Ankita has over 8 years of experience and has been actively involved in advising domestic and foreign clients in the areas of infrastructure finance, corporate finance, debt restructuring, banking & finance regulations, overseas direct investments and external commercial borrowings.