Khaitan & Co Advised VentureSoul Partners On Debut Investment In True Credits Through Non-Convertible Debentures

Khaitan & Co Advised VentureSoul Partners on Debut Investment in True Credits through Non-Convertible Debentures

Khaitan & Co acted as the legal counsel for VentureSoul Partners (Investor), in relation to their debut investment in unlisted, secured, redeemable non-convertible debentures (NCDs) aggregating to INR 20 crores issued by True Credits Private Limited (Issuer), a non-banking financial company (NBFC) registered with Reserve Bank of India as a NBFC since 2019 and having an overall assets under management of more than INR 1200 crores, with over 9 lakh active customers.

The proceeds of the NCDs shall be utilised by the Issuer for the growth of its lending business. The NCDs are backed by a corporate guarantee by its holding company, Balancehero India Private Limited (BHI). BHI runs and operates “True Balance”, (the RBI- authorised PPI issuing entity and emerging lending platform).

The core team consisted of Rajeev Vidhani (Partner), Savni Tewari (Principal Associate), Mansi Mishra (Associate) and Sarika Jhanwar (Associate).

Khaitan & Co assisted VentureSoul Partners in:
(i) drafting, reviewing, negotiating, revising and finalising the transaction documents;
(ii) supervising the completion of the conditions precedent to the transaction; and
(iii) execution of the transaction documents.

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