Hyderabad-based renewable power producer Mytrah, has raised Rs 1,800 crore from Piramal Group’s financial services companies. The funds are being invested in the form of non-convertible debentures (NCDs) with a seven-year tenure into two Mytrah Group entities, Mytrah Energy (India) Private Limited (Rs 980 crore) and Mytrah Ujjwal Power Private Limited (Rs 820 crore). The funds will be used to take out existing investors including IDFC Alternatives Ltd, AION Direct Singapore Pte Ltd, Merrill Lynch International, Apollo Asia Private Credit Master Fund Pte Ltd and Goldman Sachs Investment Holdings (Asia) Ltd with part of the facility also providing the required growth capital to the company. C CEO and Managing Director, Mytrah Group said, “This transaction is a tremendous vote of confidence from marquee investor. It marks another milestone in Mytrah’s journey and provides additional impetus for the firm’s next phase of growth.”
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