SunEdison Infrastructure Ltd updates on SILRES Energy Solutions Pvt Ltd

SunEdison Infrastructure Limited ("Company"), has entered into a share subscription and shareholders' agreement dated May 19, 2020 ("SSHA") with SILRES Energy Solutions Private Limited ("SILRES") (wholly owned subsidiary of the Company), Dinesh Kumar Agarwal, Anil Jain, Pashupathy Shankar Gopalan and Fenice Investment Group LLC ("Investor"). The SSHA contains the terms on which the Investor will invest an INR equivalent of USD 2,500,000 (United States Dollars Two Million Five Hundred Thousand) ("Investment Amount") in order to subscribe to compulsorily convertible preference shares ("CCPS") of SILRES at INR 10 per CCPS and the inter se obligations of SILRES and the shareholders of SILRES.

The number of CCPS to be subscribed by the Investor will be determined once the Rupee equivalent of the Investment Amount has been received by SILRES.

Source : Equity Bulls

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