Reportedly, Ayana Renewables has approved a plan to raise Rs 1.5 billion through the issuance of 1,500 non-convertible debentures at an issue price of Rs 1 million each to infrastructure leasing and financial services limited (IL&FS) mutual fund.
The proceeds will be utilised for debt refinancing, subsidiary support in renewable projects, interest payments, loans, and other eligible infrastructure needs. The debentures will have a tenure of three years from the date of initial drawdown.
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