Shriram Pistons & Rings Limited has made a maiden issue of listed, secured, rated, redeemable, non-cumulative, non-convertible debentures aggregating to ₹1,000 crore in two series, on a private placement basis.
Khaitan & Co acted as the transaction counsel on this NCD issuance.
The transaction team consisted of Manisha Shroff (Partner), Arjita Agarwal (Senior Associate), Akshansh Sharma (Senior Associate), Associates Rishabh Kumar, Charul Lunia and Shivansh Kumar Jain.
The proceeds of the Issue have been utilised, inter alia, for refinancing of the listed commercial papers issued by Shriram Pistons for acquisition of 100% shareholding of Antolin Lighting India Private Limited; Grupo Antolin India Private Limited and Grupo Antolin Chakan Private Limited. Axis Bank Limited acted as the arranger to the Issue.
ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund and DSP Mutual Fund subscribed to Debentures aggregating to 30% of the total size of the Issue as anchor investors.
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