Okaya energy raises debt capital
Okaya Energy Systems, part of Okaya Power Group, has raised a debt funding of Rs 500 crore from IndusInd Bank, according to the sources familiar with the matter.
Under Okaya Energy Systems, the group has several commercial projects in the National Capital Region (NCR), Bahadurgarh, Sonipat and Panchkula.
The deal was finalised by Colliers International India’s NCR Capital MIS team. However when contacted, Colliers International India declined to comment on the transaction.
Both Okaya and IndusInd didn’t respond to calls and mails till the publishing of the story.
Part of the funding will be used as rental discounting, according to one of the sources.
Rental discounting or lease discounting is generally used by commercial builders to recover their investment and still have the title of the property.