Deal Closed | Ravindra Energy Limited | Preferential allotment of Compulsorily Convertible Debentures

The details of the deal are as under

Sector: Solar 

Announcement Date: 08-Mar-2021 

Completion Date: 31-Mar-2021 

Name of Client: Ravindra Energy Limited 

Deal Description: Acted as sole counsel in relation to the preferential allotment of Unrated Unlisted Compulsorily Convertible Debentures (‘CCDs’), by Ravindra Energy Limited to one of its promoters and another related party 

Total Consideration: INR 547.50 million (USD 7.6 million) 

Team Members: Sudhir Bassi (Executive Director) and Vaibhav Mittaln (Counsel) 

Role of Firm: Acted as sole counsel in relation to the preferential allotment of Unrated Unlisted Compulsorily Convertible Debentures (‘CCDs’), by Ravindra Energy Limited to one of its promoters and another related party 

Innovative Feature of the transaction: Deal involves structuring the Unrated Unlisted Compulsorily Convertible Debentures (‘CCDs’) in such a way that the post-issue shareholding of the promoters does not breach the minimum public shareholding requirements.