Firm advised and represented Yes Bank Limited (YBL) and India Infrastructure Finance Company Limited (IIFCL) in relation to financing of approximately INR 675 crores to Essar Vizag Terminals Limited (EVTL), in connection with the (i) up-gradation and strengthening of the existing mechanized iron ore handling facility at the outer harbor of the Visakhapatnam Port and (ii) setting up of a mechanized facility by EVTL, at the inner harbour of the Visakhapatnam Port in Andhra Pradesh, on a PPP basis.

YBL is one of India’s leading private sector full service commercial bank with pan-India presence and a focus on financing the development of infrastructure projects in India.

IIFCL was incorporated as a wholly owned Government of India subsidiary and is now registered with the RBI as a Non-Banking Financing Company – Infrastructure Finance Company (NBFC-IFC), with a focus to finance viable infrastructure projects.

EVTL is a wholly owned subsidiary of Essar Ports Limited (“EPL”), incorporated as a special purpose vehicle to implement the upgradation and setting up of the mechanized iron ore handling facility at Visakhapatnam Port in Andhra Pradesh.

Total Consideration of the deal was for USD 108 million approximately (INR 675 crores).

Associate Partner, Kumar Saurabh Singh led the transaction with assistance from Partner, Deepto Roy on certain aspects of the transaction.