Virescent Renewable Energy Trust raises Rs.325-Cr from IIFCL

India Infrastructure Finance Company (IIFCL), a government company, has invested INR 325 crore in the non-convertible debentures (NCDs) issued by KKR-backed InvIT Virescent Renewable Energy Trust (VRET). IIFCL made an e-bid for the issue on February 4. The total monies mopped out through the NCD offering was INR 650 crore, out of which IIFCL has invested INR 325 crore. Virescent Infrastructure is a renewable energy platform backed by the global investment firm KKR in India. Headquartered in Mumbai, it was established to acquire operating assets and leverage investment opportunities in the renewable energy sector.