CleanMax raises Rs 2,500 crore through green bond issue for renewable energy expansion. The secured, listed NCDs feature maturities up to 10 years with fixed coupons of 8.25-8.76%.
Amount Raised
₹25 Billion
Round Type
Venture
GujaratEnergyRenewable EnergySolarBiomass EnergyInvestors
Description
CleanMax Enviro Energy Solutions has raised Rs 2,500 crore through green debt securities, marking the first green bond issuance in India's commercial and industrial renewable energy sector. The funds were raised through rated, secured, listed and redeemable non-convertible debentures (NCDs) on a private placement basis across five series with maturities ranging from two to 10 years. The proceeds will finance and refinance solar, wind, hybrid generation and battery storage projects. The issuance was anchored by the International Finance Corporation, National Bank for Financing Infrastructure and Development and India Infrastructure Finance Company, with additional participation from Aditya Birla Capital, IDFC First Bank, Nippon India Mutual Fund and select corporate investors.
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