Juris Corp acted as legal advisor to Infopark Properties Limited (“IPL”), a Tata group entity, in successfully raising INR 875 Crores (Indian Rupees Eight Hundred and Seventy-Five Crores Only) through listed and secured non-convertible debentures (“NCDs”).
The Juris Corp team, led by Ms. Apurva Kanvinde (Partner), along with Mr. Smit Parekh (Senior Associate) and Mr. Devyansh Desai (Associate), provided comprehensive legal support to IPL. Their involvement included advising on the legal documentation necessary for the borrowing process, addressing the specific requirements related to IPL’s operations within a special economic zone, and ensuring compliance with applicable laws and regulations.
Infopark Properties Limited is a company engaged in the development, operation, and maintenance of IT parks, SEZ, real estate, and infrastructure facilities and raised the funds by issuing NCDs on a private placement basis in the primary market. The NCDs were subscribed by mutual funds and other qualified financial institutions. The funds will be utilized for general corporate purposes, including refinancing existing debts.
The deal involved the creation of a pari passu charge through hypothecation on receivables from IPL’s project, including rentals and cash flows, as well as a mortgage over the project. The NCDs are listed and traded on the Bombay Stock Exchange (BSE).
This transaction highlights IPL’s strategic financial planning and commitment to maintaining its leadership in the IT park and real estate sectors. The successful raising of INR 875 Crores is a testament to the company’s robust business model and the confidence placed in it by financial institutions.
The investors were represented by Khaitan and Co. for this transaction.
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