Sembcorp buys IDFC’s 28% in Indian green arm for `1,400 cr

Singapore-based Sembcorp Industries plans to acquire a 28 per cent stake in its Indian unit, Sembcorp Green Infra (SGI), from private equity firm IDFC Alternatives for `1,410.2 crore.

With this acquisition, Sembcorp will become the sole owner of SGI. In February 2015, Sembcorp Industries acquired a 60 per cent stake in SGI for about `1,060 crore, marking its entry into India’s renewable energy market. This was gradually increased to 72 per cent by mid-August 2017.

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