Liquidity Events
Avaada Ventures repays Rs.6,713-Cr debt to Brookfield Renewable
Mumbai-based Avaada Ventures has repaid debt owed to Brookfield Renewable in a deal valued at about INR 6,713 crore. The transaction, which resulted in a two-fold return for Brookfield, involved the redemption of optionally convertible debentures.Brookfield had previously committed USD 1 Billion to the holding company through its Brookfield Global Transition Fund in 2023, of which about USD 400 million was invested.Founded in 2007 by Vineet Mittal, Avaada Ventures is a renewable energy solutions firm that maintains diversified operations across energy generation, solar component manufacturing, green fuel production, and storage projects. The repayment follows a series of exits by institutional investors from the company, including partial stake sales by Global Power Synergy Company.The repayment occurs ahead of a planned INR 7,600 crore initial public offering by group company Avaada Electro. This public offering intends to raise INR 1,600 crore through a fresh issue of shares, alongside an offer for sale by promoter Avaada Ventures for INR 6,000 crore.
For FY25, Avaada Ventures had reported about INR 260 Cr in Operating Income and about INR 2,163 Cr in PAT.
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