Shardul Amarchand Mangaldas & Co. Advised IFCI Limited And India Semiconductor Mission On USD 1.1 Billion Fiscal Support For Semiconductor OSAT Facility In Assam

Shardul Amarchand Mangaldas & Co. advised IFCI Limited and India Semiconductor Mission on USD 1.1 Billion Fiscal Support for Semiconductor OSAT Facility in Assam

The leading law firm in India, Shardul Amarchand Mangaldas & Co. (“SAM”) acted as legal counsel to IFCI Limited and the India Semiconductor Mission (“ISM”) in connection with the provision of fiscal support amounting to approximately USD 1.1 billion (INR 10,225 crore) for the establishment of a semiconductor Outsourced Semiconductor Assembly and Test (OSAT) facility in Assam by Tata Semiconductor Assembly and Test Private Limited and Tata Electronics Private Limited.

The fiscal support was provided under the Government of India’s modified scheme for promoting semiconductor manufacturing and advanced packaging facilities.

The transaction involved the execution of a fiscal support agreement, security agreement, and escrow agreement covering the development of wire bond packaging, flip chip, and ISP system facilities. The project is expected to strengthen India’s electronics manufacturing ecosystem, enhance domestic semiconductor capabilities, reduce reliance on imports, and generate employment across the automotive, electronics, telecom, and industrial manufacturing sectors.

The SAM team was led by Anurag Dwivedi (Partner), with support from Megha Kaur (Principal Associate) and Amogh Mittal (Associate).

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