SWELECT Energy Systems to Raise INR 138 Cr via NCDs
SWELECT Energy Systems plans to raise INR 138 crore through private placement of non-convertible debentures and expand its solar project portfolio with new subsidiaries and capacity enhancements.
December 20, 2024. By Mrinmoy Dey
These secured, unlisted, rated, redeemable NCDs, offering a 9.5 percent average interest rate, will have a tenure of 12.5 years and are intended to strengthen the company’s financial position.
Additionally, the board has approved converting INR 40 crore in loans into 40 lakh preference shares at INR 100 each for its wholly-owned subsidiary, SWELECT HHV Solar Photovoltaics.
The company also plans to set up four new subsidiaries — SWELECT Sunpower Plus, SWELECT Solarkraft, SWELECT GP, and SWELECT SE — with initial capital of INR 100,000 each, to develop solar power projects.
In October, SWELECT HHV Solar, with an enlisted capacity of 627 MW, was added to the provisional Approved List of Models and Manufacturers (ALMM) with an applied capacity of 700 MW.
please contact: contact@energetica-india.net.
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