Gautam Thapar-controlled Avantha Power & Infrastructure (APIL) is set to raise $75 million from US-based Kohlberg Kravis & Roberts (KKR), one of the leading global private equity firms. KKR, which had already invested $50 million in the first half of last fiscal year for 9% stake, will acquire additional 11% equity stake for $75 million to take its holding to a little over 20%.
The power company was planning to mop up around . 1,100 crore earlier this year through initial public offer. “The company is in advanced discussions with KKR and expects to conclude the deal by June end or early next month,” said a senior company official on the condition of anonymity. Avantha’s spokesperson declined to comment.
The power company was planning to mop up around . 1,100 crore earlier this year through initial public offer. “The company is in advanced discussions with KKR and expects to conclude the deal by June end or early next month,” said a senior company official on the condition of anonymity. Avantha’s spokesperson declined to comment.
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