JSA advises Axis Bank on subscription to ₹250 crore NCDs issued by CESC

JSA has advised Axis Bank Limited (as the Investor) and IDBI Trusteeship Services Limited (as the Debenture Trustee) in connection with a financing by way of subscription to unlisted, secured non-convertible debentures issued by CESC Limited for an amount of ₹250 crore.

The JSA transaction team comprised of Soumitra Majumdar (Lead Partner), Shrijita Bhattacharya (Partner) and Gavin Pais (Junior Associate).

The allotment was approved by CESC's board on April 11, 2025, and was executed on a private placement basis. These NCDs are unlisted and secured instruments, providing Axis Bank with a fixed-income investment backed by CESC’s assets.

CESC is a flagship company of the RP-Sanjiv Goenka Group, engaged in the business of generating and supplying electricity in Kolkata, Howrah and adjoining areas.

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