The deal represents an investment by TNB Topaz Energy Sdn. Bhd., a subsidiary of Tenaga Nasional Berhad, of up to INR 2,256,010,000 by way of subscription to compulsorily convertible debentures and equity shares issued by GMR Bajoli Holi Hydropower Private Limited, according to reports.
“GMR Infrastructure’s stepdown subsidiary GMR Bajoli Holi Hydropower Pvt Ltd (and a subsidiary of GMR Energy) has raised ₹225.60 crore from TNB Topaz Energy SDN Bhd, a wholly-owned subsidiary of Tenaga Nasional Berhad. The proceeds (raised through compulsorily convertible debentures) would be used for the construction of 180-MW Bajoli Holi hydroelectric project, Himachal Pradesh. The project is under advanced stage of construction,” reported Hindu Business Line.
Khaitan & Co advised
L&L Partners advised
2018-12-10
Deal value: INR 2,256 million to be infused through 2 tranches
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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