SAM advises GMR Energy on divestment of stake in 3 power plant SPVs

GMR Energy Limited has strategically divested their majority stake in stressed assets, including, GMR Bajoli Holi Hydropower Private Limited, GMR Rajahmundry Energy Limited, GMR Vemagiri Power Generation Limited, to Synergy Investments Holding Limited.

Shardul Amarchand Mangaldas & Co advised the GMR Group in this cross-border transaction.

The transaction team was led by V.R. Neelakantan (Partner), Samridha Neupane (Partner), Sourav Naug (Senior Associate), Siddharth Jain (Senior Associate) Manmay Mridul (Senior Associate) and Madhvi Vangani (Associate).

This transaction will allow the GMR Group to execute the proposed one-time settlement with the lenders of GMR Rajahmundry Energy Limited, reduce debt by ₹4,400 crore, and strategically spin off non-operational gas-based plants and other stressed assets from its portfolio.

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