Purvanchal EAV-3 Smart Metering Private Limited and Kanpur Jhansi Banda Smart Metering Private Limited, subsidiaries of Gemstar Infra Pte Ltd, have secured facilities from Punjab National Bank valued at ~₹1,950.76 crore.

JSA advised the Gemstar Infra subsidiaries on this transaction.

The transaction was led by Karan Mitroo (Partner), with support from the Project Finance team comprising Ankita Parasar (Partner), Jhalak Gupta (Associate), and Harshil Kakkar (Associate).

Khaitan & Co advised Punjab National Bank on this financing deal.

The transaction team was led by Gahan Singh (Partner).

The financing will be utilized for the installation of advanced smart meters across the state of Uttar Pradesh, aiming to enhance energy efficiency and modernize power infrastructure.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.