23 Jul 2026
Deal: Issuance of INR denominated, listed and unsecured non-convertible debentures by Kerala Infrastructure Investment Fund Board
07 Nov 2024
07 Nov 2024
Trilegal acted as transaction counsel and advised Kerala Infrastructure Investment Fund Board, a statutory body and one of the largest State public sector undertakings in Kerala (“KIIFB”), debenture holders, and the arranger (i.e., Tipsons Consultancy Services Private Limited) in connection with (i) the issuance of INR-denominated listed and unsecured non-convertible debentures aggregating up to INR 850,15,00,000 (Issuance); and (ii) the re-issuance of INR denominated listed and unsecured non-convertible debentures aggregating up to INR 149,87,00,000 (Re-issuance) by KIIFB, with the Issuance and Re-issuance aggregating up to INR 1,000,02,00,000. The non-convertible debentures are supported by an unconditional and irrevocable guarantee issued by the Government of Kerala.
The team was involved in structuring, documenting, and providing advice on all relevant legal aspects in relation to the transaction.
The documentation and the repayment mechanics for this transaction required detailed review and structuring to ensure compliance with the statute/regulations governing KIIFB and Government of Kerala and the relevant SEBI regulations for listing of non-convertible securities issued by body corporates.
The Trilegal Banking and Finance Team advising on the matter was led by Partner Joseph Jimmy and comprised Tania Chourasia, Counsel; and Aditya Shukla, Associate.
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