Indian renewable independent power producer (IPP) Mytrah has raised approximately $277m of investments for its subsidiaries from the Piramal Group.
The funds, which come in the form of non-convertible debentures (NCDs), will be invested into Mytrah Energy and Mytrah Ujjwal. The NCDs will have a seven-year duration to maturity, and will help the group grow its capital without diluting shareholder equity, according to a statement from London-listed Mytrah.
