HDFC Bank Limited, along with Punjab National Bank, has sanctioned a ₹455 crore rupee term loan financing for the Deoghar Ring Road Project, implemented by Deoghar Ring Road Project Private Limited under a concession-based road development framework.

The transaction involved a senior secured rupee term loan facility led by HDFC Bank Limited to part-finance the estimated project cost of ₹999.52 crore for the development of the Deoghar Bypass / Ring Road project.

The project is being developed by Deoghar Ring Road and is promoted by Power Mech Projects Limited.

Shardul Amarchand Mangaldas & Co advised HDFC Bank on this financing transaction.

The transaction team was led by Anurag Dwivedi (Partner), with support from Prince Singh (Principal Associate), Shashwat Bhaskar (Senior Associate), Associates Amogh Mittal and Palak Jhalani.

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