Subhalakshmi Naskar

Subhalakshmi has worked extensively in infrastructure projects in the roads, ports and renewable energy sectors. She has rich experience in advising many clients on various infrastructure projects including power, roads and airports, project financing, structured financing, investment in infrastructure projects and represents developers, sponsors, lenders and contractors in infrastructure and project finance transactions. Her clients include Infrastructure majors, leading Indian banks and international investors, such as Canada Pension Plan Investment Board, CDPQ, International Finance Corporation, Goldman Sachs and Adani group.  

• Adani Ports and Special Economic Zone Limited in relation to the acquisition of 75% stake in Krishnaptnam Port Company Limited from the CVR Group for INR 13,500 Crores. Subhalakshmi acted for APSEZ as acquirer’s counsel and also acted for the lenders to the target.
• Adani Ports and Special Economic Zone Limited in acquiring: (a) 10.40% stake in Gangavaram Port Limited from Government of Andhra Pradesh; (b) 1% stake in Gangavaram Port Limited from D.V.S. Raju and family (Promoters) for ₹3,604 crore; and (c) 31.5% stake held by Windy Lakeside Investment Limited (a Warburg Pincus LLC entity).
• Essar Group in relation to part of a larger transaction for certain Ports and Power infrastructure assets which are primarily captive to ESIL steel plant operations (now AMNSIL steel plan), the Essar Group, through its group company, Essar Power Limited (Mauritius) has entered into definitive agreements with AMNSIL for the sale of its entire stake in Essar Power Hazira Limited and in Gandhar Hazira Transmission Limited.
• Essar Ports Limited on various aspects of project development and financing of their ports in India.
• Adani Group in acquisition of Ambuja Cement and ACC Ltd by the Adani Group for USD 10.5 Billion.
• Adani Group on the acquisition of SoftBank Group’s India portfolio of renewable energy assets.
• Adani Enterprises Limited on a joint venture with ECX Inc for setting up data centres in India.
• Adani Green Energy Limited in relation to a joint venture with Total S.A. to house 2.148 GW of operating solar projects across 11 states in India.

• Ranked ‘Up and Coming’ at Chambers and Partners, 2023 & 2022
• ‘Notable practitioner’ in Project Development, Project Finance, Capital Markets: Structured Finance and Securitisation practice area, IFLR 1000 in 2019-2023

• Bar Council of Maharashtra and Goa, India