Landmark Deals & Transactions
A snapshot of the complex transactions we have structured, from high-value real estate funds and debt restructurings to renewable energy project finance.
I advised an institutional investor on their investment in the USD 1 billion H-DREAM Fund, a private credit fund managed by HDFC Capital. This fund is focused on developing sustainable affordable and mid-income housing, showcasing my work in large-scale real estate investment and fund structuring.
In this transaction, I advised Adhunik Power & Natural Resources on an INR 1400 crore investment from Davidson Kempner. The funds, raised through non-convertible debentures (NCDs), were used to provide a complete exit to the existing lender, Edelweiss ARC, demonstrating my expertise in debt restructuring and complex financing solutions.
I advised SWAMIH Investment Fund I on its INR 300 crore last-mile funding for the 'Rising City' residential project in Mumbai. This type of financing is critical for completing stalled real estate projects, and my role involved structuring the investment through non-convertible debentures to ensure the project's successful completion.
I advised BluPine Energy on securing INR 1,787 crore in term loan facilities from NaBFID for its renewable energy projects. This complex transaction involved optimizing the financial structure for 14 separate special purpose vehicles (SPVs) to enhance their credit profile and reduce financing costs, highlighting my project finance capabilities.
I advised Henkel Adhesives India on establishing a captive renewable energy arrangement with CleanMax. This deal involved structuring a power purchase agreement and a 26% equity acquisition in the solar project's SPV, enabling Henkel to move closer to its carbon-neutral manufacturing goals.
I advised Tata Steel on its 26% equity investment in one of India's largest industrial round-the-clock (RTC) hybrid renewable power projects. This deal, structured under the Group Captive Regime, is a key part of Tata Steel's strategy to achieve its net-zero target by 2045 and shows my experience in green energy project investments.
About Landmark Deals & Transactions
A landmark transaction is rarely just about signing documents. It is about aligning commercial intent with the regulatory framework to ensure the structure holds up under scrutiny. Whether it is a project finance arrangement for renewable assets or last-mile funding for real estate, we focus on mitigating risk at the term-sheet stage so the deal does not collapse during execution.
Our approach to transaction advisory is built on the reality that legal frameworks often lag behind financial innovation. When we advise on complex corporate finance, we look for the friction points between current regulation and the deal structure.
Why Structure Matters
In large-scale investments like the USD 1 billion H-DREAM Fund or debt restructurings exceeding INR 1400 crore, the legal architecture determines the risk profile for both the borrower and the lender. We do not just review clauses. We pressure-test them. By deep-diving into the specific SPV structures used in our renewable energy work with clients like BluPine Energy and Tata Steel, we ensure the deal satisfies both banking covenants and long-term sustainability goals.
Our Process in Transactions
- Term Sheet Analysis: We flag commercial risks, such as prepayment penalties, before you commit. This prevents legal obstacles from becoming commercial showstoppers.
- Redlining & Negotiation: We lead negotiations with lender counsel to settle events of default and covenant clauses, focusing on protecting your operational flexibility.
- Conditions Precedent (CP) Advisory: Moving from signing to disbursement is where most deals stall. We provide a clear roadmap to satisfy the 30-50 conditions typically required in project finance.
Sector Expertise
- Renewable Energy: Structuring group captive regimes and project SPVs to align with net-zero mandates.
- Real Estate & Private Credit: Facilitating last-mile funding and debt restructuring to ensure project completion.
- Corporate Finance: Managing NCD issuances and listing compliance to ensure statutory requirements are met without slowing down the capital raise.
We focus on clarity. You will get a firm position on what is compliant and what introduces unnecessary exposure, allowing you to move forward with a defensible strategy.
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