
Temasek in India energy deal
After much speculation, it appears that Singapore-based Temasek Holdings will invest Rs.1,600 crore ($354 million) in India's GMR Energy in the form of convertible preference shares. The capital is intended to fund further expansion of thermal and hydro projects with a capacity of nearly 4,500MW.
Temasek’s shares will be converted after GMR Energy a subsidiary of GMR Infrastructure, floats on the Bombay Stock Exchange. It had planned to launch an IPO to raise the capital, but shelved plans due...
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