Mumbai: About half a dozen investors, including Abu Dhabi’s Masdar Clean Energy, Petronas-owned Gentari, Singapore’s Sembcorp, PSP Investments and Brookfield, are vying to acquire Ayana Renewable Power, a clean energy platform owned by the National Investment and Infrastructure Fund (NIIF), multiple people aware of the talks told ET.
The majority stake sale will value Ayana’s equity at $1 billion, with an enterprise value – inclusive of debt in the capital structure – around $2.5-3 billion, sources told ET. Non-binding bids will likely be in by mid-April, said these officials.
