Tata Power is in negotiations with large pension and sovereign asset managers to raise at least $500 million ahead of a planned initial public offer, The Economic Times reported on Friday.
The talks come just after Tata Sons, India’s largest conglomerate and the holding company of Tata Power, announced that it was raising $1 billion from investors by selling a stake in Tata Motors’ electric vehicle unit.
The report quoted people aware of the talks as saying that funds in the US and the Middle East are exploring investing in Tata Power Renewables.
Full story: The Economic Times
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