The project has undergone two debt-restructurings in the past, of which the second one could not be concluded due a circular of the Reserve Bank of India (RBI) issued in February 2018.
Rattan India’s Amravati power project (1,350 Mw) has concluded its debt restructuring with new lenders coming on board.
Goldman Sachs and Varde Partners will take over Rs 4,050 crore of the total debt from existing lenders.
This also includes 15 per cent equity each in the project. The new lenders have used the Aditya Birla Asset Reconstruction Company platform for the deal.
First Published: Dec 30 2019 | 9:07 PM IST