BlackRock-led team to invest ₹4,000 crore in Tata’s renewables firm
BlackRock, the largest asset manager in the world, is leading a ₹4,000 crore ($525 million) investment in the Tata Group’s renewables unit, joining hands with Mubadala Investment Co. of the United Arab Emirates (UAE).
BlackRock Real Assets and Mubadala will together own about 10% in Tata Power Renewable Energy Ltd (TPREL) and help India’s largest conglomerate to expand its foray into clean energy. The final shareholding will range from 9.76% to 11.43% after conversion. The transaction values the company at about ₹40,000 crore, a little less than half of Tata Power’s market cap of ₹87,248.75 crore.
