Cyril Amarchand Mangaldas Advises Nxt-Infra Trust

Cyril Amarchand Mangaldas (CAM) advised Nxt-Infra Trust (“Trust”), an infrastructure investment trust, by way of a private placement of units at a price of Rs. 100 per unit aggregating to Rs. 1,52,000 lakhs (the "Issue"). The Issue was made to the eligible investors, outside the United States in "offshore transactions" in reliance upon Regulation S under the United States Securities Act of 1933, as amended. The Trust holds six strategic roads, spanning an aggregate length of over 2,000 lane kms at key geographies including Delhi, Haryana, Maharashtra, Uttarakhand and Uttar Pradesh.

CAM played a significant role in this landmark transaction. Firm’s comprehensive and strategic guidance was crucial to the success of the private placement. CAM expertly navigated the complexities of shareholding transfer restrictions, structuring future agreements for residual stake acquisitions, extensive advice and correspondences with NHAI/PWD-Maharashtra (being the relevant concessioning authorities) and ensuring a seamless and efficient transaction.

The Capital Markets team of Cyril Amarchand Mangaldas advised on the matter. The team was led by Kranti Mohan, Partner & Head - REIT and InvITs;  with support from Chinar Gupta, Senior Associate; Subham Jain, Associate; Arjun Nair, Associate; and Siddhant Mehta, Associate.

Other parties and advisors to the transaction included Axis Capital Limited, acted as book running lead manager to the issue; NovaOne Capital Pvt. Ltd, acted as financial advisor for Investment Manager and Trust.