Piramal Capital’s Structured Finance Group and Dutch partner APG Asset Management are investing INR 19 billion in Indian renewable power producer Mytrah Energy , The Economic Times (ET) reports.
The pair will make the investment through mezzanine debt instruments, two people aware of the development told the newspaper. According to the report, most of the proceeds will be used to purchase the interest of current shareholders including Apollo Global Management, Aion, Goldman Sachs, Bank of America Merrill Lynch and IDFC Alternatives.
Meanwhile, a portion of INR 1.5 billion to INR 2 billion will be spent on growth initiatives and paying back debt, the newspaper said. Read More…
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