Khaitan & Co advised Tenaga Nasional Berhad on the transaction
GMR Infrastructure’s stepdown subsidiary GMR Bajoli Holi Hydropower Pvt Ltd (and a subsidiary of GMR Energy) has raised aprox $32.5 million from TNB Topaz Energy SDN Bhd, a wholly-owned subsidiary of Tenaga Nasional Berhad. The proceeds (raised through compulsorily convertible debentures) would be used for the construction of 180-MW Bajoli Holi hydroelectric project, Himachal Pradesh. The project is under advanced stage of construction.
Khaitan & Co advised Tenaga Nasional Berhad with a team including Akhil Bhatnagar (Picture), Swathy Ramanath, Jhinook Roy, Harshita Khurana, Jagata Swaminathan and Sathyajith Nair (M&A), Vivek Mimani and Deepak Jodhani (Funds), Sagardeep Rathi (Antitrust) and Swati Bala.
Law Firms: Khaitan & Co.;
Clients: Tenaga Nasional Berhad;