Hyderabad-based renewable energy producer Mytrah Energy India Pvt. Ltd is in advanced talks to raise Rs1,800 crore in structured debt funding from Piramal Capital’s structured finance group (SFG), two people directly aware of the development said on condition of anonymity. According to them, the deal is at a term-sheet level and will be one of the largest structured debt investments by Piramal group till date.
Mytrah plans to use the funds to refinance its debt and provide exits to some of its current investors such as IDFC Alternatives, AION Capital and Merrill Lynch International before its planned initial public offering (IPO). “The transaction will go towards refinancing the company’s debt in various special purpose vehicles (SPVs),” said the first of the two people cited above. “Apart from refinancing, the funds will also go towards funding projects at various stages of development,” the person added. Read More…
Credit By : livemint.com
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