Sembcorp: Increases Stake In India Renewable Energy Business To 72%.

17 Aug 2017 17:08

Sembcorp Industries' wholly-owned subsidiary Sembcorp Utilities has subscribed to an entire rights issuance by Sembcorp Green Infra to fund the company's growth in the renewable sector in India, including the portion of the rights issuance that was not subscribed to by its partner IDFC Private Equity Fund III. The total investment in the rights issuance of approximately INR 1 billion, approximately S$ 21.4 million, was financed through internal funds. As a result of the partner's non-participation in the rights issuance exercise, Sembcorp Utilities' stake in Sembcorp Green Infra has increased to approximately 72%...

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