JSA, TT&A act on Summit Digitel ₹1,475 crore NCD issuance

Summit Digitel Infrastructure Limited has issued listed, senior, secured non-convertible debentures, aggregating to ₹1,475 crore.

JSA Advocates & Solicitors advised Summit Digitel on this NCD issuance.

The transaction team was led by Tirthankar Datta (Partner), with support from Sagar Srivastava (Principal Associate) & Ciol Kumar (Associate).

TT&A advised an Indian development finance institution on its subscription to the NCDs.

The transaction team consisted of Nikhil Bahl (Partner), Radhika Sarda (Associate) and Eshani Agarwal (Associate).

The rated, listed, and redeemable NCDs, issued on a private placement basis, carry a 15-year tenure and offer a coupon of 7.31% per annum, payable quarterly. The issuance has received a AAA/Stable rating from both CRISIL and CARE, supported by predictable, annuity-like cash flows under long-term master service agreements with Reliance Jio. The proceeds are intended to refinance existing debt and meet general corporate requirements.

Summit Digitel is a leading player in India's telecom sector, primarily focused on providing passive telecom infrastructure. They are the largest telecom tower manufacturer in India, offering a comprehensive suite of services related to wireless communication, including tower installation, maintenance, and infrastructure management. Their integration into the Altius Group has further strengthened their position in the industry.