Shardul Amarchand Mangaldas & Co. advised HDFC Bank in granting financial assistance by way of a rupee term loan facility to Torrent Gas Jaipur Private Limited. The assistance was availed by the Borrower for the purpose of, inter alia, part financing the laying, building, operating and expanding of the city gas distribution (CGD) network and associated ancillary infrastructure in the geographical area of Alwar (Other than Bhiwadi) and Jaipur Districts as awarded by PNGRB. The deal was valued approximately at USD 259.2 million and the expected date of closing the deal was 21st March 2023.

Torrent Group has forayed into City Gas Distribution business to meet the critical need of Green Fuel in different parts of India. Their presence is in 17 Geographical areas, spreading across 34 districts covering 7 States and 1 UT in India and are committed to making Natural Gas widely available to people in the areas of its authorization.

The Transaction team was led by Debashree Dutta, Partner; Arijit Sarkar, Principal Associate; Anshuman Roy, Senior Associate; and Nikita Hora, Associate

About Shardul Amarchand Mangaldas & Co.:

Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.

The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 776 lawyers including 161 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.

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