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Avaada Ventures Repays Brookfield Debt Ahead of ₹7,600 Crore IPO
Avaada Ventures has paid back debt owed to Brookfield.
The repayment is part of a ₹6,700 crore deal.
Brookfield’s exit comes before a planned stock-market listing.
The listing will involve Avaada Electro Ltd., a company in the Avaada Group.
The IPO could raise ₹7,600 crore in total.
Of that amount, ₹1,600 crore would come from newly issued shares.
Avaada Ventures plans to sell existing shares worth ₹6,000 crore.
These plans were described in a document filed with the regulator on 25 August.
Avaada Ventures repaid Brookfield debt in a ₹6,700 crore deal.
Brookfield is exiting ahead of Avaada Electro Ltd.’s planned IPO.
The IPO is expected to raise a total of ₹7,600 crore.
Avaada Electro plans to raise ₹1,600 crore through fresh shares.
Avaada Ventures proposes selling ₹6,000 crore of shares through an offer for sale.
- Who
- Avaada Ventures, Brookfield, and Avaada Electro Ltd.
- What
- Avaada Ventures repaid Brookfield’s debt in a ₹6,700 crore deal ahead of Avaada Electro Ltd.’s planned IPO.
- Where
- The articles do not specify a location.
- When
- The IPO plan was disclosed in a document dated 25 August; the articles do not specify the year.
- Why
- Brookfield’s exit occurred ahead of Avaada Electro Ltd.’s proposed ₹7,600 crore IPO.
Key facts
- Debt repayment deal
- ₹6,700 crore
- Planned IPO size
- ₹7,600 crore
- Fresh share issue
- ₹1,600 crore
- Offer for sale
- ₹6,000 crore
- Selling shareholder
- Avaada Ventures
- Exiting investor
- Brookfield
- Regulatory document
- Dated 25 August
Sources
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