Khaitan & Co.
Founded in 1911, Khaitan & Co is a premier full-service Indian law firm with over 700 lawyers, including 145 partners.
More From The Author >>Deal Closed | Ravindra Energy Limited | Preferential allotment of Compulsorily Convertible Debentures
Khaitan 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
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.
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