Shardul Amarchand Mangaldas advises Axis Bank–Led Consortium on USD 1 Billion Financing for Botswana Power Project

Shardul Amarchand Mangaldas & Co.  acted as legal counsel to a consortium of lenders led by Axis Bank Limited in connection with the provision of senior secured financing aggregating up to USD 1 billion to Jindal Energy (Botswana) Proprietary Limited, a step-down subsidiary of Jindal Power Limited, for the development of a power project in Botswana.

Phase 1 of the transaction involved the execution of financing documents aggregating USD 507.5 million, with the lending consortium comprising Axis Bank Limited (as lead lender), ICICI Bank Limited, IDFC First Bank Limited, RBL Bank Limited, YES Bank Limited, Export-Import Bank of India, and IndusInd Bank Limited. The financing will support the construction, development, and commissioning of a greenfield power project in Botswana.

The transaction represents one of the largest overseas USD lending transactions undertaken by Indian banks in recent times and underscores the growing role of Indian financial institutions in supporting cross-border infrastructure and energy projects across emerging markets.

The SAM Team was led by Anurag Dwivedi - Partner with client relationship support by Relationship Partner - Anoop Rawat - Partner, National Practice Head - Insolvency & Restructuring, and important inputs from Saurav Panda - Partner, Megha Kaur - Principal Associate, Shashwat Bhaskar - Senior Associate, Aparna - Associate, Amogh Mittal - Associate, Ananya Khanna – Associate.

About SAM:

Shardul Amarchand Mangaldas & Co. (SAM), founded on a century of legal achievements, is one of India’s leading full-service law firms with the ISO/IEC 27001:2022 certification - the latest global benchmark for Information Security Management Systems. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & restructuring, dispute resolution, international commercial arbitration, capital markets, banking & finance, tax, intellectual property, data protection and data privacy, white collar crime, technology law and infrastructure, energy and project finance.
 

With the full suite of Harvey AI functionalities, 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 950 lawyers including 184 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.