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Edelweiss, Hero Future eye AMPL Cleantech; Aavishkaar-Intellecap may raise $75 mn

21 March, 2018

Edelweiss Group and Hero Future Energies are looking to acquire solar power assets of 190 MW from AMPL Cleantech Pvt. Ltd, the renewable energy arm of Kolkata-based Atha Group, a financial daily reported.

Citing people aware of the development, The Economic Times said Edelweiss is considering acquiring Atha Group’s solar assets through its infrastructure fund.

In December 2017, Edelweiss Alternative Asset Advisors had launched Edelweiss Infrastructure Yield Plus (Fund) with a target corpus of Rs 2,000 crore ($312 million) and a green-shoe option of Rs 4,500 crore ($703 million).

The firm has eight operational solar assets across Rajasthan, Karnataka, Maharashtra, Telangana and Madhya Pradesh with an aggregate capacity of 135 MW, according to its website.

AMPL Cleantech CEO Brijesh Gupta, however, denied the development to the financial daily.

Aavishkaar-Intellecap

Impact investment firm Aavishkaar-Intellecap Group is looking to raise $50-75 million to support the growth of its portfolio companies and make new investments, Mint reported.

Vineet Rai, founder of Aavishkaar-Intellecap Group, told the business daily that they were looking to raise $50-75 million within the next three months.

Last year, the firm had raised $25 million (about Rs 170 crore) in an equity funding round led by Triodos Investment Management and Shell Foundation.

The holding company Aavishkaar-Intellecap Group has three businesses – equity investments under Aavishkaar, advisory services under Intellecap and debt funding vehicles under Arohan, IntelleGrow and IntelleCash.

In another development, news portal Private Equity International reported that Luxembourg-based PE firm Bamboo Capital Partners is in talks with several institutional investors to raise $100 million for an impact fund targeting Asian healthcare companies.

Citing people aware of the development, the report said that the fund is likely to hit the first close by June if it gets additional commitment from a pharmaceutical company.

The fund will aim to deploy two-thirds of its capital into clinics and pharmacies across India, Pakistan, Bangladesh and Indonesia, the report said.

Bamboo Capital had recently invested in Bengaluru-based Modern Family Doctor, VCCircle reported earlier this month.

Its other portfolio firms in India include Bhubaneswar-based non-banking finance company Annapurna Microfinance, Delhi-based affordable education provider Vienova Education and green energy startup Greenlight Planet.

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Edelweiss, Hero Future eye AMPL Cleantech; Aavishkaar-Intellecap may raise $75 mn

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