Luthra And Luthra Acted As Counsel For 5 Bond Issuances By A Renewable Energy Infrastructure Investment Trust
LIVELAW NEWS NETWORK
14 April 2023 5:36 AM GMT
Luthra and Luthra Law Offices India advised Nippon Mutual Fund (the “Holders”) in connection with the private placement of up to 5,000 senior, secured, rated, listed, redeemable, non-convertible debt securities aggregating to Rs. 50,00,00,000 by Virescent Renewable Energy Trust (the “InvIT”) (the “Issue”).
The InvIT currently owns and manages a portfolio of 16 operational solar projects across 7 states in India, with an aggregate capacity of 538.2 MW DC/ 455 MW AC 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 5th 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 5 bond issuances by a renewable energy infrastructure investment trust.
The transaction team comprised of Partners, Mr. Karan Mitroo and Ms. Purvi Dabbiru, and Associate, Ms. Pragya Verma.
