DK Business Network
Cyril Amarchand Mangaldas (CAM) acted as legal counsel to GMR Nagpur International Airport Limited (GNIAL) for its ₹2,607 crore financing, aimed at upgrading Dr. Babasaheb Ambedkar International Airport, Nagpur.
The financing, structured as a rupee term loan facility, is led by the State Bank of India and includes a consortium of lenders such as HDFC Bank, ICICI Bank, and Axis Bank and also holds a long-term concession from the Maharashtra government. The funds are earmarked for the development of a new integrated terminal building, expansion of airside facilities, enhancement of cargo handling and upgraded runway infrastructure to position Nagpur as a key regional aviation hub.
“Our vision is to make Nagpur a gateway to Central India’s air traffic, with a world-class airport that meets global standards,” GMR Group has stated in earlier communications. The project is expected to support the region’s growth in passenger mobility and logistics over the next decade.
CAM’s role encompassed comprehensive legal advisory services, including drafting, reviewing, and negotiating financing documents, as well as ensuring compliance with regulatory requirements. The transaction team was led by Ajay Sawhney, Partner; Bhupendra Verma, Partner; with support from Aditya Pandey, Principal Associate-Designate; Ashish Jain, Associate; and Nikhil Gupta, Associate.
This collaboration marks a significant step in GNIAL’s efforts to transform Nagpur Airport into a world-class aviation hub, aligning with India’s push for regional air connectivity and investment in tier-2 aviation assets.
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