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Tata To Raise $500m For Renewables Unit: ET

The talks come just after Tata Sons, the holding company of Tata Power, announced it will raise $1 billion from investors by selling a stake in Tata Motors’ electric vehicle unit.


Funds in the US and the Middle East are said to be exploring investing in Tata Power Renewables. Photo: EGAT.

 

Tata Power is in negotiations with large pension and sovereign asset managers to raise at least $500 million ahead of a planned initial public offer, The Economic Times reported on Friday.

The talks come just after Tata Sons, India’s largest conglomerate and the holding company of Tata Power, announced that it was raising $1 billion from investors by selling a stake in Tata Motors’ electric vehicle unit.

The report quoted people aware of the talks as saying that funds in the US and the Middle East are exploring investing in Tata Power Renewables.

Full story: The Economic Times

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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