Lenders for Essar Steel India Ltd., the biggest steel mill on the block under India’s new bankruptcy law, have selected ArcelorMittal as the preferred bidder for the asset, bringing the world’s largest steel maker a step closer to gaining a foothold in India’s growing market for the alloy.
French energy firm Engie SA, one of the largest foreign investors in India’s solar power space, has mandated Rothschild to find a buyer for picking up a significant stake in its Indian solar business.
Russian oil firm Rosneft-owned Essar Oil Ltd (EOL) is planning to raise ₹3,000 crore in debt funding to meet its financial requirements, said two people aware of the company’s plans.
JSW Steel Ltd is tapping overseas bond investors to raise $1 billion to fund its plan to buy distressed assets in India, two people directly aware of the plans said.
Mytrah Energy (India) Pvt. Ltd is in talks with potential investors to raise $500 million by selling a stake in the company.
Leading Indian renewable energy firm ReNew Power Ventures Pvt. Ltd has raised Rs 2,235 crore ($352 million) through two non-convertible debt issues.
Canada Pension Plan Investment Board (CPPIB) is in the process of acquiring stake in Indian renewable energy firm ReNew Power Ventures Pvt Ltd in two tranches.
While Adani Transmission has acquired transmission assets of WRSS Schemes of Reliance Infrastructure Ltd for Rs 1,000 crore, Allianz Group-Shapoorji Pallonji’s joint platform has identified three assets for investments.
Schneider Electric SE, a French multinational specializing in energy management and automation, has emerged as the top bidder to acquire engineering company Larsen and Toubro Ltd’s (L&T’s) electric and automation division, two people familiar with the development said.
Group is exploring the acquisition of Gati Infrastructure Pvt. Ltd’s (GIPL) 110 megawatt (MW) Chuzachen hydro-electric project in east Sikkim, two people aware of the development said.