Shardul Amarchand Mangaldas & Co. advised ICICI Bank Limited on the extension of a project finance term loan facility of INR 509.34 crore to Ceigall Ludhiana Bathinda Greenfield Highway Private Limited for the development of a six-lane greenfield highway between Ludhiana and Bathinda in Punjab, India. The deal was signed on 15th May 2025.
The project is being developed under a concession agreement with the National Highways Authority of India (NHAI). NHAI is also providing additional financial support by way of a grant covering 40% of the bid project cost (excluding GST).
The transaction team was led by Soummo Biswas, Partner; Dnyanraj Desai, Partner; Aakaansha Arya, Associate; Shravani Bhide, Associate; and Amandeep Saini, Associate.
