Jindal Power sells minor stake to Motilal Oswal PE in Indian Energy Exchange

Motilal Oswal Private Equity Advisors Private Limited, the private equity (PE) arm of Motilal Oswal Financial Services Limited, has acquired a 4.1 per cent stake in the Indian Energy Exchange (IEX) from Jindal Power Limited for Rs 980 million. The PE firm acquired the stake through two of its funds, the India Business Excellence Fund II and the India Business Excellence Fund II A. The transaction values the IEX at Rs 23.9 billion.

Electrical equipment maker Crompton Greaves Limited has agreed to sell its international power business to US-based PE firm First Reserve International Limited for an enterprise value of Euro 115 million ($126 million, or about Rs 8.5 billion). The company has accepted a revised binding letter of offer by First Reserve for the acquisition of its European, North American and Indonesian power businesses. With this, Crompton Greaves aims to reduce its debt and focus on expansion in India.