Global private equity and venture capital player 3i's Indian investment arm 3i India Infrastructure Fund GP has invested Rs 900 crore in Adani group's power venture Adani Power,in what is its first investment.
With the enterprise value of Adani Power being pegged at Rs 10,850 crore, 3i's equity stake in Adani Power works out to nearly 8%. The deal was inked between 3i group chairperson Baroness Hogg and Adani group chairman Gautam Adani. Adani Power, which is a fully-owned subsidiary of Adani group flagship - Adani Enterprises, is currently developing an independent 2,640 MW imported coal-based thermal power plant at Mundra in Gujarat.
Read more in The Times of India article.
2 comments:
Dude, is 10850 the EV or the Mcap? Power plants are highly leveraged, so not sure if thats the EV
Its Mcap, said 8% dilution for Rs 900 cr.....rough estimate of EV ll be 18200 (Mcap plus debt of 7370 (Rs 4.5cr per mw gives total asset value of 10530, debt - 70%)......
does this reconcile......
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