Mohan Breweries to raise Rs.1500 Crore for power sector ventures

Mohan Breweries will raise Rs 1,500 crore overseas to enter power sector.

The company will raise Rs 1,500 crore through debt and equity instruments for its entry into power sector through a 100 per cent subsidiary, Mohan Power Ltd. It has opted for hybrid securities through placements overseas by a major US fund house. The fund raising activity would begin in the later part of September by venture capital fund Exhilway Global Opportunities Fund L.P. The exercise is being advised by US firm's Indian arm Exhilway Capital Advisory. The equity base and the debt ratio of the new power subsidiary, however, was being finalized