The Mumbai-based distiller has made compulsory arrangements for Kotak Mahindra Bank and Avendes Capital to arrange for lending, which is designed as a rupee-reserved non-convertible debenture (NCD), people said that the information should not be named as private.
They added that the price of Debt is kept in low-moderate adolescents, the size of the transaction and the credit profile of Tilak town, they added. In January 2024, Chrisil upgraded the company to A-/stable, which led to 13% to 95.95%, effective MID Q1 Fiscal Year 25, according to the company’s investors.
A source said that Tilaknagar is planning to fund the body of the bid through Deva and the rest of the equity.
“Avengus and Kotak investors are reaching around 500 million, where the deal will be a mix of funds from mutual funds and non-banking finance companies through non-convertible debentures and loans of foreign banks.” “About $ 100 of these can be raised by private credit funds.”
A spokesman for Tilaknagar, Kotak and Avendes did not respond to the comments. The ET reported on June 4 that Tilaknagar was leading an acquisition race for Imperial Blue by marking India’s largest Alkobev M&A in almost a decade.
Tilaknagar debt was reconstructed in 2020 with the Edelvis Arc. Since then, the company’s financial matters have improved.
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