Citigroup Inc.’s hedge fund unit Old Lane LP plans toinvest Rs 1.06 billion ($26 million) in India’s KVK Energy & Infrastructure Pvt., as the world’s second-fastest pace of economic growth lures investors.
Old Lane, bought this year by Citigroup, may acquire 26 per cent of KVK Energy, which builds power projects, company secretary Ram Mohan said in a telephone interview from Hyderabad, where KVK Energy is based. He didn’t give a timeframe.
An Indian panel this week will consider proposals from KVK Energy and 17 other companies seeking to invest in India or sell stakes to overseas buyers, according to information posted by the industrial policy department of the government.
Read more in The Business Standard article.
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