AZB & Partners has acted as sole transaction counsel for HDFC Asset Management and Total Environment Building Systems (TEBS) in relation to the subscription of optionally convertible debentures by HDFC of TEBS. The transaction was executed in order to fund a project by TEBS in Bangalore. AZB partner Sai Krishna Bharathan led the firm’s team in advising on the transaction, which was valued at Rs130 billion (US$2.7 billion).
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