Axis Bank Limited invests in INR 400 Crores NCDs issued by CESC Limited

JSA advised Axis Bank Limited (as the Investor) and IDBI Trusteeship Services Limited (as the Debenture Trustee) in connection with a financing by way of subscription to unlisted, secured and senior non-convertible debentures (“NCDs”) issued by CESC Limited (“CESC”), for an amount of INR 400 crores. CESC is a flagship company of the RP-Sanjiv Goenka Group, engaged in the business of generating and supplying electricity in Kolkata, Howrah and adjoining areas.

The NCDs have been issued by CESC on private placement basis, for myriad purposes, including meeting its capital expenditure requirements and incurring general business expenditure.

JSA team comprised Lead Partner – Dina Wadia, Partner – Soumitra MajumdarNand Gopal Anand, Senior Associate – Harshit Dusad, and Associate – Kemi Gupta.