Khaitan & Co Advised NaBFID On ₹4,471 Cr Financing Deal For Avaada Group
Khaitan & Co Advised NaBFID On ₹4,471 Cr Financing Deal For Avaada Group
Khaitan & Co acted as the Legal Counsel for National Bank for Financing Infrastructure and Development in a significant transaction. In this landmark deal, the National Bank for Financing Infrastructure and Development (NaBFID) sanctioned financial assistance totaling ₹4,471 crores to four Special Purpose Vehicles (SPVs) of Avaada Group. This assistance aims to refinance existing lenders involved in a solar power project located in Rajasthan.
The transaction team at Khaitan & Co was led by Dr. Siddarth Srivastava, Partner, along with Rashneet Kaur, Principal Associate, Shobhit Batta, Senior Associate, and Anwesha Dasgupta, Senior Associate.
This refinancing transaction encompasses four inter-state transmission system-connected solar projects with a combined capacity of 1,700 MWp. This is one of the largest refinance transactions ever conducted in India's renewable energy space.
