BlackRock-led group to invest Rs 4000 cr in Tata Power Renewables

Tata Power and Black Rock Real Assets led consortium including Mubadala Investment company has entered into a binding agreement to invest Rs 4000 cr in Tata Power Renewables. Black Rock Real Assets will invest the funds by equity and compulsorily convertible instruments for a 10.53% stake in Tata Power Renewables translating to a base equity valuation of Ra 34000 crore. The final shareholding will range from 9.8% to 11.4% on final conversion.