ICICI Bank Limited, Yes Bank Limited, and India Infrastructure Finance Company Limited have gone forth with the private placement of up to 1,500 Non-Convertible Debentures aggregating to ₹150 crores in 2 series by Virescent Renewable Energy Trust.

The Banking and Finance Team of Luthra and Luthra advised ICICI Bank, Yes Bank and India Infrastructure Finance Company in this transaction.

The transaction team consisted of Karan Mitroo (Partner) and Pragya Verma (Associate).

This is the 4th time that the firm has acted as a counsel for bond issuance by the InvIT, making it the only firm in India to have acted as counsel for 4 bond issuances by a renewable energy infrastructure investment trust.

The InvIT currently owns and manages a portfolio of 14 operational solar projects across 7 states inIndia and runs primarily with the objective of undertaking investment activities as an infrastructure investment trust under the provisions of the SEBI (Infrastructure Investment Trusts) Regulations, 2014.

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