DK Business Network
Two units of Gemstar Infra Pte Ltd have raised ~₹1,950.76 crore in financing from Punjab National Bank (PNB) valued at approximately USD 225.9 million (INR 1,950.76 crore). The funds will be used for the deployment of smart meters in Uttar Pradesh.
₹1,950 Crore Facility to Boost Smart Meter Rollout
The loan has been approved for Purvanchal EAV-3 Smart Metering Private Limited and Kanpur Jhansi Banda Smart Metering Private Limited. The amount will be used for the installation of smart meters in Uttar Pradesh, improving power distribution efficiency and facilitating digital energy monitoring.
JSA and Khaitan & Co Lead on Legal Advisory
JSA represented the Gemstar subsidiaries, and Karan Mitroo (Partner) headed the transaction, assisted by Ankita Parasar (Partner), Jhalak Gupta (Associate), and Harshil Kakkar (Associate).
Khaitan & Co. represented Punjab National Bank, with the transaction being headed by Partner Gahan Singh.
This funding facilitates India’s continued work to digitize energy infrastructure. It also represents an important milestone in public-private partnership for smart metering and power sector reforms.
Instagram: Click Here
LinkedIn: Click Here
For Collaboration and Business: dkbusinessnetwork@gmail.com