Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) may buy a stake in power sector investor CLP India Pvt. Ltd, according to a report in Mint which cited two people familiar with the development.
CLP India is a wholly-owned subsdiary of Hong Kong-listed CLP Holdings Ltd. CLP entered India in 2002 when it acquired a 655-megawatt gas-fired power plant in Gujarat’s Bharuch.
“The investment is being planned at the Indian company level,” the report cited an unnamed source as saying.
CLP India has operational and committed renewable energy capacity of more than 1,000 megawatt. Its only solar power project, with a capacity of 100 MW, is under construction in Telangana. It has a thermal energy capacity of 1,975 megawatt, according to its website.
CDPQ is Canada’s second-largest pension fund and has $286 billion worth of assets under management.
The development comes at a time when several foreign players have been exploring India’s green energy space.
In a separate Mint report, Ahmedabad-based John Energy Ltd, which provides drilling services to oil and gas firms, is planning an initial share sale of about Rs 300 crore.
According to a Mint report which cited three people aware of the development, the initial public offering (IPO) will provide an exit to several high networth individuals including Rakesh Jhunjhunwala.
The company will also raise a small amount of primary capital to fund its growth, the report cited an unnamed source as saying.
It added that IDFC Bank and Keynote Capitals Ltd have been given the mandate to handle the IPO.
Incorporated in 1987, John Energy is involved in drilling new oil wells and rehabilitation of abandoned oil wells, apart from providing oil recovery services.
The company’s total income stood at Rs 567.5 crore and profit after tax was Rs 32.5 crore for the financiual year 2015-16, according to VCCEdge, the data intelligence platform of VCCircle.
In another report, US-headquartered private equity firms including TPG Capital and Warburg Pincus are looking to invest in leading mutual fund distributor NJ Wealth – operated by NJ India Invest Pvt. Ltd – by buying a minority stake for $150-200 million (Rs 950 crore – Rs 1,300 crore).
According to The Economic Times which cited three people aware of the development, the proposed deal will value NJ Wealth between $750 million and $1 billion.
In 2016-17, the company had received roughly Rs 442 crore in gross commissions.
The firm’s consolidated income stood at Rs 609 crore and profit after tax was Rs 43.14 crore for the financial year 2016-2017.
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