 "The BlackRock logo is seen outside of its offices in New York")
Tata Power said on Thursday that a BlackRock Real Assets-led consortium, including Mubadala Investment Company, would invest Rs 4,000 crore for a 10.53% stake in the company's renewable energy unit. This translates to a base equity valuation of Rs 34,000 crore for Tata Power Renewables, the company said in a stock exchange filing.
The first round of investment is expected to be completed by June and the rest by the end of 2022. The final shareholding will range from 9.76% to 11.43% on final conversion.
The BLK SPV will invest Rs 4,000 crore in two equal tranches of Rs 2,000
