Axis Capital Limited

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Virescent Renewable Energy Trust
Rs. 4,600 Mn

Primary Product

ECM

Secondary Product

InvIT Private Placement

Date

Sep 2021
Virescent Renewable Energy Trust
Rs. 4,600 Mn

Primary Product

ECM

Secondary Product

InvIT Private Placement

Date

Sep 2021
Virescent Renewable Energy Trust (“Virescent”) floated India’s first private InvIT to house operating renewable energy assets.
The trust was set up by KKR to own and operate an initial portfolio of 394MWp of Solar Power Generation assets having long term power purchase agreements with central and state off-takers.

Virescent is the first renewable energy platform in India to get ‘AAA’ credit rating (from CRISIL and India Ratings).

Axis Capital successfully navigated regulatory challenges with respect to guidelines for Private InvITs making several recommendations to SEBI to ensure regulatory clarity around the process. As the sole banker to the transaction, we handheld the company through the entire process to ensure smooth and efficient closure of transaction (India’s first renewable energy private InvIT).
Axis Capital continues to dominate the Renewable energy and allied infrastructure sector having closed 5 transactions in this space since the onset of the pandemic.

Transactions

Rectangle 18378 (3)
Rs. 37,500 Mn

Primary Product: 

ECM

Secondary Product:

IPO

Date:

Mar 2021
Rectangle 18378
Rs. 25,000 Mn

Primary Product: 

ECM

Secondary Product:

IPO

Date:

Apr 21
Rectangle 18380
Rs. 2,000 Mn

Primary Product: 

ECM

Secondary Product:

QIP, PIPE

Date:

Dec 2021
Group 1000003411 (2)
Rs. 4,600 Mn

Primary Product: 

ECM

Secondary Product:

InvIT Private Placement

Date:

Sep 2021
Rectangle 18378 (7)
Rs. 12,840 Mn

Primary Product: 

ECM

Secondary Product:

Rights Issue / Advisory / QIP

Date:

Apr 2021
nuvoco
Rs. 50,000 Mn

Primary Product: 

ECM

Secondary Product:

IPO

Date:

Aug 2021