Overview of the Loan Agreement

Cyril Amarchand Mangaldas (CAM) acted as the legal advisor to GMR Nagpur International Airport Limited in securing a rupee term loan facility amounting to ₹2607 crores, provided by Tata Capital Limited. This financial arrangement is aimed at supporting the development and expansion of the Dr. Babasaheb Ambedkar International Airport in Nagpur, Maharashtra.

Project Financing Details

The loan will partially finance the estimated total project cost of ₹3725 crores, which includes upgrades and operational enhancements to the existing airport facilities. Key areas of development encompass:

• Civil works
• Mechanical and electrical installations
• Terminal building enhancements
• Cargo facilities
• Runway improvement
• Other necessary project assets

This financing comes as part of a concession agreement between the borrower and MIHAN India Limited (MIHAN), further solidifying the airport’s strategic significance in the region.

Leadership and Advisory Team

The transaction was spearheaded by Ajay Sawhney, Partner and Head of the Northern Region at CAM, alongside Bhupendra Verma, Partner. The team included support from Vaibhav Shrivastav, Consultant, and Nikhil Gupta, Associate, showcasing a collaborative effort from CAM in navigating this complex financial venture.

Cyril Amarchand Mangaldas’ Expertise

CAM provides legal counsel to a wide array of clients, including domestic and international corporations, financial institutions, private equity and venture capital funds, startups, as well as governmental and regulatory bodies. The firm operates from several key business hubs, such as Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore, and Abu Dhabi, cementing its reputation in the legal sector.