Neo Asset Management subscribes to Vizag Profiles' INR 185 crore NCD issuance

"Khaitan & Co advised funds managed by Neo Asset Management Private Limited on their subscription to unlisted, secured, unrated, redeemable non-convertible debentures aggregating INR 185 crore issued by Vizag Profiles Private Limited to refinance its and its group entities' indebtedness and for general corporate purposes; the issue is secured inter alia by a pledge over listed shares of Steel Exchange India Limited."

Khaitan & Co acted as legal counsel to funds managed by Neo Asset Management Private Limited in relation to the subscription of unlisted, secured, unrated, redeemable non-convertible debentures issued by Vizag Profiles Private Limited. The transaction involved the subscription of unlisted, secured, unrated, redeemable non-convertible debentures aggregating to INR 185,00,00,000 (Indian Rupees One Hundred and Eighty Five Crores) issued by Vizag Profiles Private Limited. The proceeds were raised for refinancing Vizag Profiles' existing financial indebtedness and that of its group entities, and for other general corporate purposes. The issue was secured by, inter alia, a pledge over listed shares of Steel Exchange India Limited. Khaitan & Co represented funds managed by Neo Asset Management Private Limited with a team composed by: Rahul Chakraborti (Partner), Savni Tewari (Counsel), Sarika Jhanwar (Senior Associate), Kartikey Gaur (Associate), Ojasav Chitranshi (Associate), Yash Bhatt (Associate) and Ayaan Vali (Associate). Support was provided by Sudheer Madamaiah (Partner) and Hareesha K S (Senior Associate) on title diligence aspects; Pankhuri Jain (Associate) assisted on execution formalities.

Neo Asset Management subscribes to Vizag Profiles' INR 185 crore NCD issuance

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