JSA has advised Purvanchal EAV-3 Smart Metering Private Limited and Kanpur Jhansi Banda Smart Metering Private Limited, subsidiaries of Gemstar Infra Pte Ltd, on securing facilities from Punjab National Bank valued at approximately USD 225.9 million (INR 1,950.76 crore). The financing will be utilized for the installation of advanced smart meters across the state of Uttar Pradesh, aiming to enhance energy efficiency and modernize power infrastructure.
The transaction was spearheaded by Karan Mitroo, Partner, with critical support from the Project Finance team comprising Ankita Parasar (Partner), Jhalak Gupta (Associate), and Harshil Kakkar (Associate).
This deal highlights JSA’s continued expertise in advising on large-scale infrastructure and energy sector transactions, particularly in the domain of digital transformation of utilities.
Karan brings nearly 17 years of extensive experience in foreign and domestic debt financing in India. He advises leading clients across sectors such as renewables, infrastructure, real estate, healthcare, and hospitality.