India’s largest clean energy producer, Re-New Power, has picked Goldman Sachs, Kotak and JM Financial to advise on a planned $700 million (Rs 4,480 crore) initial public offering of shares that could see some of its early investors such as Goldman Sachs and Abu Dhabi Investment Authority make a partial exit, people briefed on the matter said.
The three investment banks were appointed after almost a dozen banks made presentations to pitch their credentials to manage the planned share sale, the people said. More banks may be added to the group that eventually manages the sale, they said.
Spokespersons for JM Financial and Kotak declined to comment, while Goldman Sachs and ReNew did not respond to queries until press time Wednesday. Read More…
ReNew Power Picks Goldman Sachs, Kotak, JM Financial For Planned $700 Million IPO added by ET Energy World on
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