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Hyderabad-based renewable energy producer Mytrah Energy has raised Rs. 2,100 crore from Piramal Group’s financial services companies.
These funds are being invested in the form of non-convertible debentures (NCDs) into two Mytrah group entities — Mytrah Energy (India) (Rs. 1,050 crore) and Mytrah Ujjwal Power (Rs. 900 crore).
Trilegal advised Mytrah Energy. The Trilegal team was led by Partner Charandeep Kaur along with Counsel Ramakant Rai, Senior Associate Naved Ali Alvi and Associate Harshit Anand.
Agram Legal Consultants acted for Piramal and the team was led by Parter Vaishali Sharma and Vivek Pillai.
Linklaters acted as international counsel for Piramal.
The funds will be used to take out existing investors, including IDFC Alternatives, AION Direct Singapore, Merrill Lynch International, Apollo Asia Private Credit Master Fund and Goldman Sachs Investment Holdings (Asia), with part of it also providing the required growth capital to the company, reported Financial Express.