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Some select assignments spearheaded by Utsav are set out below:

Private Credit

• Advised Barclays Bank PLC and 360 One Alternates as arrangers in relation to INR 73 billion (approx. USD 830 million) financing to Hinduja Group for acquisition or Reliance Capital Limited.
• Advised the two largest investors on INR 286 billion (USD 3.2 billion) financing to Shapoorji Palonji Group secured by shares of Tata Sons
• Advised Vedanta Limited in connection with INR 25 billion (USD 280 million) financing from a clutch of private credit funds.
• Advised a consortium of lenders in a financing of INR 150 billion (USD 1.6 billion) to a Tata Steel subsidiary for the acquisition of Bhushan Steel
• Advised the arranger in connection with INR 6 billion (USD 68 million) for acquisition of Planetcast Media Services from AION.
• Advised a foreign private credit fund in financing to Gupshup Technology.

Cross border financing

• Advised Mu Sigma Inc. and other group companies in connection with USD 180 million financing
• Advised the lenders in connection with USD 750 million foreign currency borrowing to NTPC Limited
• Advised the lenders in connection with USD 750 million foreign currency borrowing to Tata Semiconductor Manufacturing Private Limited
• Advised lenders on Indian law with respect to JPY 80 billion foreign currency borrowing to Housing and Urban Development Corporation Limited
• Advised lenders on Indian law with respect to USD 100 million foreign currency borrowing to Dedicated Freight Corridor Corporation of India backed by guarantee from Multilateral Investment Guarantee Agency
• Advised the lenders in relation to financing and refinancing of a US$ 1.775 billion facility to ONGC Videsh Limited

Acquisition Financing

• Advised Coforge Pte. Ltd. and Coforge Limited in connection with an interim financing of USD 250 million for acquisition of Cigniti Technologies Limited
• Advised the lenders in connection with financing to Advent International for acquisition of Suven Pharma Limited
• Advised the lenders in connection with financing to Platinum Partners for acquisition of Inventia Healthcare
• Advised the lenders in connection with financing of Blackstone for acquisition of Mphasis Limited
• Advised the lenders in connection with financing to Carlyle for acquisition of Hexaware Technologies
• Advised Advent International on all aspects of its financing for acquiring a controlling stake in Crompton Greaves’ consumer electrical business

Structured Financing, Special Situations and others

• Advised arrangers in connection with put option backed mazenine finance to JSW Group for acquisition of Bushan Power and Steel.
• Advised Tata Capital Limited in connection with put option backed financing by way of quasi-equity instruments to Deepak Fertilisers group.
• Advised Standard Chartered in connection with a sale of an Indian stressed asset portfolio
• Advised Ares SSG Capital (the successful bidder) in the debt restructuring of Altico Capital (an Indian real estate NBFC)
• Advised the committee of creditors in connection with the corporate insolvency resolution process of Sintex Industries Limited
• Advising the resolution professionals in the corporate insolvency resolution process of Ushdev International and Meenakshi Energy Private Limited
• Advised Vedanta Limited in connection with INR 5 billion privately placement of listed non-convertible bonds
• Advised Tata Steel Limited in connection with INR 3 billion privately placement of listed non-convertible bonds