A key shareholder of India’s Megha Engineering & Infrastructures Ltd. is seeking to raise about $700 million from global private credit investors to buy out his uncle’s stake in the company, according to people familiar with the matter, in what would be one of the nation’s biggest deals this year.
A consortium of lenders including Davidson Kempner Capital Management, Elham Credit Partners and Varde Partners has begun preliminary work on the structure of the financing, the people said, asking not to be identified because the information is private. Terms haven’t been finalized and discussions could still change, they said.
