Mytrah Energy raises Rs 430 cr

Our Bureau Mumbai | Updated on March 12, 2018 Published on November 27, 2014

Mytrah Energy, a London-based independent power producer, said it has raised Rs 430 crore ( about $70 million) from Merrill Lynch International, a Bank of America Merrill Lynch entity and funds managed by affiliates of Apollo Global Management.

Mytrah Energy (India) Ltd, a wholly subsidiary of Mytrah Energy, has an operating portfolio of over 542 MW across Andhra Pradesh, Tamil Nadu Karnataka, Maharashtra, Gujarat and Rajasthan.

The funding, in the form of a bond, is expected to be listed on the BSE. The financing also contains a greenshoe option to extend the bond by a further Rs 170 crore, the company said.

Mytrah Energy said the proceeds from the issue would be primarily used to refinance an existing Rs 90 crore mezzanine facility provided by IDFC and for developing new wind projects including equity contribution, for the portfolio to reach 1000 MW.

“With a long pipeline of wind projects in place, we are delighted to have secured the support of investors with whom we can build a long standing and fruitful relationship,” said Ravi Kailas, Chairman and CEO, Mytrah Energy Ltd.

Published on November 27, 2014

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