Mytrah Energy India Ltd has raised R100Cr – mezzanine funding from PTC India Financial Services Ltd.
This was the third tranche of funding received by the Mytrah as part of a total mezzanine funding to $132 million.
There would be no equity dilution for Mytrah Energy's existing shareholders from the funding. The Group expects to repurchase all tranches of mezzanine funding from internal cash flows and the issue of senior debt instruments, bonds or other debt refinancing, within three to five years.
Kishor Biyani, the Future Group founder has mandated Kotak Mahindra Bank to scout for the potential financial backer for Lee Cooper's apparel business. The deal would value the apparel business at over R1200 Cr ($200 Mn).