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KT(ripathy), Khaitan throw $55m lifeline to Hindusthan National Glass via Lotus One SPV

“HNG ropes in new investor to pare debt: Debt-ridden Hindusthan National Glass & Industries (HNG), the country’s largest container glass maker, has roped in a new investor, Lotus One Investment Pte of Singapore,” reported Hindu Business Line.

Lotus One is a Singapore-based SPV, making a strategic investment to reduce HNG’s debt, which would see it hold more than 30% of HNG’s share capital after conversion of the compulsorily convertible preference shares.

KT Advisors advised Singapore’s Lotus One Investment Pte Ltd led by a team of managing partner Kalpataru Tripathy and principal associate Ishita Bhardwaj.

Khaitan & Co Mumbai acted for Hindusthan National Glass & Industries Limited.

2019-01-13

Deal value: USD 55 Million (Approx.)

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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