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CPPIB eyes Goldman stake in ReNew Power; Mapletree may buy Chennai IT park
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Canada Pension Plan Investment Board (CPPIB) is in talks to buy a part of Goldman Sachs' stake in ReNew Power Ltd, Mint reported, citing two people aware of the development.

Goldman Sachs is planning to sell a stake of up to 20% in the company, the report said.

ReNew Power had filed its draft proposal in May for an estimated Rs 7,000-7,500 crore public offering. It had received regulatory approval to float the IPO in July.

According to ReNew Power's draft IPO documents, Goldman had a stake of 48.62% while CPPIB owned 16.22% in the company.

ReNew planned to issue fresh shares worth Rs 2,600 crore in the offering that will also see existing investors cumulatively sell 94.37 million shares.

In another development, Temasek-owned real estate asset manager Mapletree Investment is in advanced discussions to acquire Chennai IT park SP Infocity, Mint reported.

The deal is valued around Rs 2,300-2,400 crore, the report said citing two people aware of the development. It added that Mapletree had signed term sheets for the deal.

SP Infocity is owned by a joint venture of Indian conglomerate Shapoorji Pallonji Group and CPPIB. 

The property is located on the outskirts of Chennai and has close to 2.7 million square feet of operational space. Its prominent tenants include the World Bank, Amazon, HSBC and Freshworks.

SP Infocity is housed under the platform SPREP Pte Ltd, the joint venture between Shapoorji Pallonji Group and CPPIB. It had kicked off its sale process earlier this year.

Real estate consultancy firm JLL India has the mandate to find a buyer.

In 2015, SPREP acquired SP Infocity at an enterprise value of Rs 1,340 crore.

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