 "BlackRock fund to invest about $225 million in Aditya Birla Renewables")
India's Aditya Birla Renewables said on Tuesday that BlackRock's infrastructure fund will invest ₹2,000 crore ($222.50 million) and take a minority stake in the green-energy company.
BlackRock's Global Infrastructure Partners will also have a "greenshoe option" to invest a further ₹1,000 crore in the Indian company, taking the total investment to ₹3,000 crore (about $335 million), Aditya Birla Renewables said.
The investment values the renewable energy company at ₹14,600 crore including debt, the company said in a statement.
Aditya Birla Renewables is a wholly owned unit of India's Grasim Industries Ltd, which is part of the Aditya Birla Group.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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