Ayana Renewables to raise Rs 1.5 billion via non-convertible debentures
Ayana Renewable Power Private Limited 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. The debentures will be subscribed by Infrastructure Leasing and Financial Services Limited (IL&FS) Mutual Fund and will have a tenure of three years from the initial drawdown. The proceeds will be used for debt refinancing, subsidiary support in renewable projects, interest payments, loans, and other…