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Grapevine: Macquarie to sell part of solar portfolio; Dream11 in talks with banks for US listing
Photo Credit: Pixabay

Macquarie Infrastructure and Real Assets is planning to sell around 450 megawatt of its solar power projects at an equity value of $300 million (Rs 2,247 crore), two people told Mint.

“The reason these assets are expected to command a premium valuation is that a large part of these assets is located in Gujarat, which has a history of timely payments. Additionally, these projects have power purchase agreements that were signed at a tariff higher than the prevailing rates,” one of the persons said.

“The process is yet to be launched and there is a lot of interest in these assets,” said the second person.

Dream11

Dream Sports, the parent company of Dream11, is in exploratory talks with investment banks for a US listing by early next year to raise about $1.5 billion (Rs 11,237 crore) at a valuation of about $6 billion (Rs 44,946 crore), three people told The Economic Times.

Morgan Stanley, JPMorgan and Citigroup were the bankers that made presentations during the first week of April, the report said indicating that Dream Sports may merge with a special purpose acquisition company (SPAC), or blank cheque company, to list in the US.  

The listing may involve primary and secondary sales of shares, the people said.

Dream Sports raised $400 million last month in a round led by TCV, D1 Capital Partners and Falcon Edge at a valuation of $3.6 billion.

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