Pratap Technocrats Private Ltd. has raised US$90 million in debt financing

May 2023 — Pratap Technocrats Private Ltd. has successfully completed a fundraising of US$90 million.

Pratap Technocrats Private Ltd. (Pratap Technocrats) provides telecommunications services, such as the operation and maintenance (O&M) of telecom towers, optical fiber cable networks, the installation and commissioning of telecoms infrastructure, the O&M of solar panel sites and the execution of captive power projects.

Our role in the transaction

Oaklins’ team in India moved the project assessment from collaterals to merits, including sponsorship for the project from the Department of Telecommunications as opposed to the PSU company. This created a relatively de-risked structure to ensure back-to-back cash flow alignment and improve the company’s track record. Senior debt was placed entirely with top-tier banks and financial institutions and secured by a watertight cash flow structure, enabling a large call on a limited pool of collateral/front equity. This deal demonstrates the team’s unique ability to raise outsized growth capital in infrastructure financing. By leveraging its deep domain expertise and large relationship base, it can tie up both debt and project equity in a time-bound, cost-efficient manner.