Reliance Industries recently announced its entry to the broadband world by acquiring 95 percent of Infotel, a HFCL company for nearly Rs. 4,800 ($1.1 billion).

They will have to raise Rs. 2,250 crore ($500 million) in external commercial borrowings (ECB). Infotel has raised this amount to part finance the Rs. 12,848 crore (2.8 billion) specrtum fees that is needed to be paid to the Department of Telecom for the acquisition of pan-India Broadband Wireless Access (BWA) spectrum.

Recently joined Partner Shishir Mehta of Khaitan & Co. advised Reliance Industries and Infotel Broadband Services.

Shishir Mehta informed that along with Khaitan, Linklaters and Juris Corp were involved in the transaction. Linklaters, Singapore Partner Philip Badge and Counsel Aditya Shroff acted as the international legal counsels while Juris Corp was the domestic legal counsel, led by Partner Sonali Sharma.

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