Law firms Trilegal and Khaitan have taken action in response to Värde Partners leaving RattanIndia Power.
In a significant development, Värde Partners, an international investment firm, has completed the sale of its investment exposure to RattanIndia Power Limited. The transaction marks the culmination of a phased investment lifecycle, which was originally initiated as part of a consortium in 2019 that restructured and settled RattanIndia Power's entire outstanding debt through a historic one-time-settlement (OTS) transaction.
This OTS was a landmark achievement as it was India’s largest and the first involving international credit funds, including Goldman Sachs and Värde Partners.
In this transaction, Trilegal, a leading law firm, advised Värde Partners throughout the deal lifecycle. Their role included structuring the original investment, drafting and negotiating complex transaction documents, deal execution, and assisting with closing. The Trilegal team was led by partners Yogesh Singh, Ankush Goyal, and Aniruddha Sen, supported by senior associate Rohan Kohli and associate Shubh Arora.
On the other hand, Khaitan & Co advised RattanIndia Power Limited on the transaction side. Their team was led by partners Kumar Saurabh Singh and Abhimanyu Bhattacharya, bringing extensive experience to the negotiations and deal execution.
The sale was made to RattanIndia Finance Private Limited through the sale of security receipts. The transaction involved a phased exit from Värde Partners' investment exposure and an initial investment for funding the restructuring through non-convertible debentures.
This successful exit by Värde Partners represents a significant milestone in the debt resolution and investment lifecycle of RattanIndia Power, reflecting strategic restructuring and financial engineering executed over several years involving multiple stakeholders.
In the transaction, Värde Partners, a prominent player in the finance and business sectors, executed a phased exit from their investment exposure to RattanIndia Power Limited by selling security receipts. This deal, which also marked a significant milestone in the financial and business endeavors of RattanIndia Power, was facilitated by Trilegal, a leading law firm, who provided advice on the deal throughout its lifecycle.
