Subhalakshmi Naskar

Subhalakshmi Naskar

Partner (Co- Head- Projects (Infrastructure))

Infrastructure and Financing

Subhalakshmi has rich experience in advising clients on various infrastructure projects including M&A and acquisition financing in infrastructure sector in India. Her clients include infrastructure majors such as the Adani group, Essar group and Greenko group, as well as leading banks and investors such as, Kotak Bank, Edelweiss, Bank of America, Cerberus and Goldman Sachs. Some of her recent key deals include:

• Adani Group on the acquisition of SoftBank Group’s India portfolio of renewable energy assets.

• Adani Green Energy Limited in relation to a joint venture with Total S.A. to house 2.148 GW of operating solar projects across 11 states in India.

• Adani Group in acquisition and raising acquisition financing of Ambuja Cement and ACC Ltd.

• India Grid Trust (IGT), an infrastructure investment trust (InvIT) in the power transmission sector, has agreed to acquire a 100% equity stake in Khargone Transmission Limited (KTL) from Sterlite Power Transmission Limited (SPTL). The transaction will entail an initial acquisition of 49% equity stake with the remaining 51% being acquired in two subsequent tranches, of 25% and 26%, respectively.

• Avaada Ventures Private Limited, to fund the DFI exit and the investment which were closed in parallel. Global Renewable Synergy Company Limited, a subsidiary of Global Power Synergy PCL (a listed power unit of Thailand’s state-owned PTT Group) subscribed to 41.6% stake of Avaada Energy Private Limited via primary issuance of the shares.

• Advised one of the bidders for a potential investment in Cleanmax Enviro Energy Solutions

• Adani Enterprises Limited on a joint venture with ECX Inc for setting up data centres in India

• Adani Green, in relation to acquisition of 205 MW of solar assets from the Essel Group

• Sekura Roads (fund set up by the Edelweiss Group) on acquisition of two road/ bridge assets Navayuga Dhola Infra Projects Limited and Navayuga Dibang Infra Projects Private Limited

• Bank of America in providing financing to Greenko Group in respect of acquisitions / consequent refinancing of various renewable and hydro projects, namely Guttasema Wind, Himachal Sorang and Gati Infrastructure.

Bar Council of Maharashtra and Goa, India