Luthra and Luthra acts on 4th consecutive bond raise by Virescent Renewable Energy Trust
Luthra and Luthra’s Banking and Finance team recently advised ICICI Bank Limited, Yes Bank Limited, and India Infrastructure Finance Company Limited in connection with the private placement of up to 1,500 NCDs aggregating to INR 150 crores in 2 series by Virescent Renewable Energy Trust.
The transaction team comprised Karan Mitroo (Partner) and Pragya Verma (Associate).
The InvIT currently owns and manages a portfolio of 14 operational solar projects across 7 states inIndia and runs primarily with the objective of undertaking investment activities as an infrastructure investment trust under the provisions of the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
This is the 4th time that the Firm has acted as a counsel for bond issuance by the InvIT, making it the only Firm in India to have acted as counsel for 4 bond issuances by a renewable energy infrastructure investment trust.