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Udwadia Udeshi Argus, Amarchand on $10m Telangana highway project sale

Amarchand Mangaldas advised the HCC group on its Rs 64 crore sale of a highway project to IDFC-backed Highway Concession One. IDFC was advised by Udwadia Udeshi & Argus.

Amarchand Mumbai partner Santosh Jankiram acted for HCON, which is part of the HCC group.

UUA managing associate Shubha Karra led the deal for IDFC Alternatives, with associates Nidhi Khanna and Abhishek Mour, and managing partner Krishnava Dutt. IDFC Alternatives manages India Infrastructure Fund, which has a majority stake in Highway Concession One.

Highway Concession One will acquire a 74% stake in the road arm Nirmal BOT right away while the balance 26% will be purchased after it receives approval from the National Highways Authority of India, reported Economic Times.

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