SNG & Partners Advised Investor And Debenture Trustee On ₹350 Cr Debenture Issuance By Eldeco Infracon Realtors Ltd.
SNG & Partners Advised Investor And Debenture Trustee On ₹350 Cr Debenture Issuance By Eldeco Infracon Realtors Ltd.
SNG & Partners provided legal assistance to the investor and the debenture trustee concerning the issuance of fully secured, unlisted, guaranteed, redeemable, rupee-denominated, transferable, and interest-bearing non-convertible cumulative debentures.
These debentures amounted to INR 350,00,00,000 and were issued and allotted by ELDECO INFRACON REALTORS LIMITED (the Issuer) to HDFC Capital Affordable Real Estate Fund – 3, the first scheme of HDFC Capital AIF-3, a category II Alternative Investment Fund.
Eldeco Infrastructure and Properties Limited, the parent company of the Issuer and a prominent real estate developer based in North India, has previously secured two rounds of financing from HDFC Capital Limited.
This third-round investment, totalling INR 700 crores, will further expedite the progress of group housing and plotted development projects across various cities, including Delhi, Gurugram, Ludhiana, Sonipat, and Goa.
The combined revenue potential of the joint platform between Eldeco group and HDFC Capital Limited, spanning 17 projects, is estimated to reach INR 8,000 crores.
SNG & Partners served as legal advisors to the investors and debenture trustee in this transaction. The firm provided comprehensive legal guidance throughout the process, encompassing drafting, reviewing, negotiation, and finalization of transaction documents.
The Real Estate team of SNG & Partners was involved in carrying out the Title Due Diligence with respect to some of the Projects in this deal spread Across Ludhiana (Punjab) for approximately 68 acres covering various residential development, Rudrapur (Uttarakhand) for 30 acres in Residential and 5.4 acres in commercial development and Sonepat (Haryana) for 17 acres of residential development.
Amit Aggarwal (Managing Partner, Corporate & Non-Contentious Practice) acted as Engagement Partner and Provided Strategic inputs on the transaction.
The transaction team consisted of Aditya Vikram Dua (Partner), Nishtha Arora (Principal Associate) and Rudraksh Karnik (Associate).
The Real Estate team was led by Mr. Subrata Mukherjee (Partner) and Mr. Rajesh Nautiyal (Counsel).
