GP Petroleums will raise ₹130 crore from RevX Special Credit Opportunities Fund II to fund business expansion. The board approved this plan on October 2, 2026. The company will use these funds to meet working-capital needs. This move gives the firm more cash to grow without using only internal money.
GP Petroleums will raise up to ₹130 crore from RevX Special Credit Opportunities Fund II to fund business expansion and meet working-capital requirements.
The board-approved financing comprises ₹30 crore of non-convertible debentures with a 36-month tenure and ₹100 crore of optionally convertible debentures for 18 months, to be issued through private placement.
The fundraise gives GP Petroleums additional financial headroom to pursue expansion without relying entirely on internal cash flows, while strengthening working-capital availability.
Of the ₹ 130 crore, ₹ 100 crore comes through optionally convertible debentures, giving RevX the potential to convert its exposure into equity. Both instruments carry a 13 per cent annual coupon, compounded monthly and paid quarterly, along with an additional 1.5 per cent coupon on allotment, reflecting the cost of securing the growth capital.