Tata Power mulling $473 million renewable energy unit IPO
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Last Updated: Apr 30, 2021, 07:33 PM IST
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Synopsis
The power company has abandoned earlier plans to seek a partner to invest in its green assets via an investment trust, the people said, asking not to be identified as the information is private.
Deliberations are ongoing and details such as the size and timing could change, the people said. A representative for Tata Power couldn’t immediately comment.
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By Baiju Kalesh and P R Sanjai
Tata Power Co., controlled by India’s largest conglomerate Tata Group, is weighing an initial public offering for its renewable energy business that could raise about 35 billion rupees ($473 million), according to people familiar with the matter.