HDFC Bank Limited - Grant of rupee facility to Maiva Lifesciences Private Limited and Maiva Pharma Private Limited

Khaitan & Co advised HDFC Bank Limited (“Lender”) on the grant of facility aggregating to INR 500 crores ("Rupee Facility"), with a non-fund based sublimit in form of letter of credit facility (“LC Facility”) as a sub-limit of the Rupee Facility (together the “Facility”), to Maiva Lifesciences Pvt Ltd (“Borrower”) and Maiva Pharma Pvt Ltd ("Co-Borrower") (together the "Borrowers") proposed to be utilized exclusively for the purpose of part financing the project cost or reimbursement of the estimated project cost incurred by the Borrower and towards making payments to the LC beneficiaries in relation to purchase/ import of goods and services by the Borrower, pertaining to a greenfield project for manufacturing of sterile injectables.

The Facility is secured, inter alia, by charge over identified assets of the Borrowers.