Shardul Amarchand Mangaldas & Co. Advised CDS Infra Projects Limited On Sale Of 100% Stake In Two Operational Road Assets To Neo Infrastructure Income Opportunities Fund
Shardul Amarchand Mangaldas & Co. Advised CDS Infra Projects Limited On Sale Of 100% Stake In Two Operational Road Assets To Neo Infrastructure Income Opportunities Fund
Shardul Amarchand Mangaldas & Co. advised CDS Infra Projects Limited ("CDS Infra") on the sale of its 100% stake in two operational road assets under NHAI’s Hybrid Annuity Model (HAM) to Neo Infrastructure Income Opportunities Fund, a SEBI-registered Category II Alternative Investment Fund, acting through its investment manager Neo Asset Management Private Limited (“Neo”). The deal is valued at approximately INR 1,500 crore.
The transaction involves two Special Purpose Vehicles (SPVs) engaged in the construction of 4-lane greenfield HAM projects, forming part of the 669 km Delhi-Amritsar-Katra Expressway. These assets, located in Haryana and Punjab, are integral to the expressway linking Delhi to Katra (Vaishno Devi) in Jammu & Kashmir, with a spur leading to Amritsar.
As part of the transaction, CDS Infra and Neo have entered into Securities Purchase Agreements for the acquisition of the entire share capital of the two road assets.
The Shardul Amarchand Mangaldas & Co. team advising on the transaction was led by V R Neelakantan (Partner) and Samridha Neupane (Partner), with support from Siddharth Jain (Associate) and Manmay Mridul (Associate).
