Singapore-based infrastructure developer and fund manager Equis Pte. Ltd is looking to sell its Indian hydropower platform Hydreq for Rs 2,000 crore ($300 million), Mint reported, citing two people aware of the development.
Equis has started a process to hire an investment bank for the sale, the report said.
Hydreq owns a controlling stake in two hydropower plants in Sikkim. It's total generation capacity is about 200 megawatt, the report said.
The planned sale comes after Equis in January sold its renewable energy platform Equis Energy to US-based private equity firm Global Infrastructure Partners and its co-investors for an enterprise value of $5 billion.
Equis Energy has more than 180 assets comprising 11,135 MW in operation, construction and development across Asia-Pacific region including Australia, Japan, India, Indonesia, the Philippines and Thailand, the company said in a statement at the time.
Meanwhile, The Economic Times reported citing multiple people aware of the development that private equity firm Blackstone has shortlisted five suitors to sell its controlling stake in business process outsourcing firm Intelenet Global Services Pvt. Ltd.
The suitors are PE firms Baring Private Equity Asia, CVC Capital Partners and Bain Capital, and IT firms Teleperformance and Covergys, the report said.
Blackstone has given the mandate to JPMorgan to conduct the sale process, the report said.
VCCircle reported in February that Blackstone may be considering a quick exit from its investment in Intelenet.
In September 2015, Blackstone had signed an agreement with UK-based Serco Group to pick up a majority stake in its private sector BPO operations for £250 million (Rs 2,558 crore or $385 million).
Intelenet employs 55,000 people across 70 global delivery centres in eight locations across the US, the UK, Europe, West Asia, India and the Philippines, the company website shows.
