Hyderabad-based renewable power producer Mytrah raised Rs. 1,800 Crore from Piramal Group’s financial services companies in order to pace up the momentum of growth.
The funds are being invested in the form of non-convertible debentures (“NCDs”) with a seven-year tenor into two Mytrah Group entities-Mytrah Energy (India) Private Limited (Rs. 980 crores) and Mytrah Ujjwal Power Private Limited (Rs. 820 crores).
“This transaction is a tremendous vote of confidence from marquee investor. It marks another milestone in Mytrah’s journey and provides additional impetus for the firm’s next phase of growth,” said Vikram Kailas, CEO and Managing Director of Mytrah Group. Read More…
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