Lubricants producer GP Petroleums to raise Rs.130-Cr from RevX's Private Credit fund

Mumbai-based publicly listed GP Petroleums will raise INR 130 crore from RevX Special Credit Opportunities Fund II to support business expansion and fulfil working-capital requirements.GP Petroleums is a manufacturer of lubricants and associated products. It plans to use the newly raised capital to provide additional financial headroom for expansion and strengthen its working-capital availability, reducing reliance on internal cash flows.The financing consists of INR 30 crore in non-convertible debentures (NCDs) with a 36-month tenure and INR 100 crore in optionally convertible debentures (OCDs) with an 18-month tenure. These instruments are to be issued via private placement and carry a 13% annual coupon, compounded monthly and paid quarterly, alongside a 1.5% coupon on allotment.