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Ind-Barath Power seeks $150 mn from PE: sources

Ind-Barath Power seeks $150 mn from PE: sources

Mumbai: India’s Ind-Barath Power Infra Ltd, a power infrastructure developer, is in talks to raise about $150 million from TPG Capital and Apollo Global Management, two sources with direct knowledge of the discussions told Reuters.

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The company, which currently operates eight power projects across the country, had filed a draft prospectus last year with the capital market regulator Sebi (Securities and Exchange Board of India) for a more than $200 million in the IPO (initial public offering).

TPG declined to comment, while Ind-Barath and Apollo did not respond to emails seeking comment.

UK-based private equity firm 3i Group had said in March its India infrastructure fund was investing about $45 million for a minority stake in Ind-Barath Energy (Utkal) Ltd, a subsidiary of Ind-Barath Power Infra.

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