Amarchand Mangaldas Partner Kalpataru Tripathy with Principal Associate Vineet Bansal and Senior Associate Promode Murugavelu advised Tulip Data Centre Services Private Limited, a wholly owned arm of listed Tulip Telecom Limited, in raising Rs. 250 Crore mezzanine funding from ICICI Bank Limited.

ICICI Bank was represented by Argus Partners, in the transaction. The funds under the present transaction have been raised for development of a state of the art data center project in Bangalore spread over an area of 9,00,000 sq. ft., which would be Asia’s largest and World’s third largest.

Mr. Tripathy had earlier advised Tulip Telecom on Rs. 230 Crore acquisition of an entire data center facility housed in Bangalore’s Sada IT Parks.