Talwar Thakore & Associates, Paine Stevens Advised On ADB, AIIB Investment In JBM Ecolife Mobility

Talwar Thakore & Associates, Paine Stevens advised on ADB, AIIB investment in JBM Ecolife Mobility

TT&A advised the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) on their investment in JBM Ecolife Mobility Private Limited through subscription to secured, unlisted non-convertible debentures (NCDs) aggregating to ₹223.93 crore.

The investment proceeds will be utilised to deploy approximately 650 electric buses in states such as Haryana and Odisha under the Gross Cost Contract (GCC) model. This is part of India's larger strategy to meet its Net Zero 2070 commitments. JBM Ecolife currently operates over 1,500 electric buses across 10 states and more than 15 major airports, with an order book exceeding 6,500 buses.

The TT&A team was led by Ambarish Mohanty (Partner) and Pragya Sood (Partner), with support from Siddharth Tandon (Managing Associate), and Shubham Gupta, Sajjan Singh, and Maansi Mehta (Associates).

Paine Stevens acted as English law counsel to Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB)

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