Anil Ambani Embraces Cleantech; Invests $21.3 Million In NEPC
Mon, 04/17/2006 - 21:38 — Sahad P VSo cleantech is catching on in India. Anil Ambani has made his first move into the sector. His Reliance Capital has acquired 51 pr cent stake in Chennai-based wind energy company NEPC for Rs 96 crore. Besides Ambani, stock broker Nimesh Shah has acquired 13 per cent in NEPC for Rs 15 crore and and Tarun Jain, CFO of Sterlite, has picked up 4 per cent.
The deal values NEPC at Rs 180 crore. While, Suzlon Energy, a company in the same space, has a market cap of Rs 30,000 crore and its MD Tulsi Tanti is one of the richest Indians on the Forbes list. [Via The Times of India]
