Khaitan & Co advised Reliance Mutual Fund in relation to subscription of 1,250 unrated, unlisted, secured, redeemable, non-convertible debentures aggregating to up to INR 125 crores issued by Avantha Realty Limited (Issuer) bearing an implicit rate of return of 14% per annum calculated on XIRR basis for the purpose of refinancing of the existing indebtedness and general corporate purposes. The debentures were inter alia secured by (a) corporate guarantee by Avantha Holdings Limited; and (b) first ranking exclusive charge over all the immoveable properties of the Issuer. Manisha Shroff (Partner), Madhuparna Dasgupta (Principal Associate), Oindrila Bhowmik (Associate) and Abhay Agarwal (Associate) represented the client on the transaction. Reliance Mutual Fund, a part of the Reliance Anil Dhirubhai Ambani (ADA) Group, is one of the fastest growing mutual funds in India
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