Sembcorp to invest Rs. 1,051 cr in IDFC PE's Green Infra.

IDFC Alternatives, the private equity (PE) arm of IDFC, has entered into definitive agreements to sell its controlling stake in Green Infra to Sembcorp Utilities - a wholly-owned subsidiary of Singapore-based Sembcorp Industries. The deal values Green Infra at Rs. 4,400 crore.

This transaction will result in IDFC Private Equity Fund II exiting completely and IDFC Private Equity Fund III continuing to hold a significant minority stake in the company with a secured path to exit, including through an initial public offering. The investment marks Sembcorp Group's entry into the fast-growing renewable energy sector in India, said a company statement. Sembcorp will be channelling all its investments in the wind and solar space in India through Green Infra.

BS