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Mytrah Energy India Ltd has secured Rs 100 crore funding from PTC India Financial Services Ltd.
This was the third tranche of funding received by the Mytrah as part of a total mezzanine funding to $132 million.
There would be no equity dilution for Mytrah Energy's existing shareholders from the funding.
The group was expecting to repurchase all tranches of mezzanine funding from internal cash flows and the issue of senior debt instruments, bonds or other debt refinancing, within three to five years.
In addition, the company's wholly-owned subsidiary, Bindu Vayu Urja Private Ltd, secured new senior loan funding totalling Rs 960 crore ($192 million).
This included Rs 600 crore ($120 million), which is fully underwritten by Infrastructure Development Finance Corporation Ltd and Rs 360 crore, which was at an advanced stage of syndication.
“By the end of December, the company should have 500 MW of projects distributed over 11 sites that are either commissioned or are under construction,'' Mr Ravi Kailas, Chairman and Chief Executive Officer of Mytrah Energy, said.
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