Green Shoots to Green backs: Actis Eyes BluPine Sale
private equity
firm
Actis
is weighing a sale of up to 100% of its stake in Gurgaon-based
renewable energy
platform
BluPine Energy
in a deal that could value the company at $1.3-1.4 billion (about ₹11,138-12,000 crore), according to people familiar with the matter.
Actis has approached multiple potential buyers, including strategic investors, for exploratory talks through its advisor on exiting the company it had launched four years ago with an $800 million commitment, the people said.
If the sale goes through, it could mark Actis' third major renewable energy exit in India, following the sale of Sprng Energy to Shell for $1.55 billion in 2022 and of Ostro Energy to ReNew Power in 2018.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
40 minutes ago
- Time of India
AVPL International announces $1 mn R&D investment for defence drones
Drone manufacturing and training firm AVPL International on Friday announced an investment of USD 1 million (about Rs 8.5 crore) towards research and development of defence drones . in April 2025, the company committed USD 12 million to drone training and manufacturing. The new investment aims to accelerate the indigenous development of advanced unmanned aerial systems (UAS) tailored for India's defence, homeland security, and dual-purpose applications, according to a company statement. "The investment focuses on addressing critical gaps in India's drone ecosystem, such as reducing dependence on imported components, developing intelligent drones with advanced swarm autonomy, and creating indigenous counter-UAS capabilities to protect critical assets. "AVPL's efforts also include high-altitude platforms capable of sustained flight in extreme terrains, with specific attention to the Himalayan region," it said. Live Events The investment will also contribute towards enhancing AVPL's manufacturing infrastructure in its facilities in Bihar and Hisar. Particular focus will be given on upskilling ex-servicemen and Agniveers by providing them with drone training, utilising their combat experience and logistical skills to develop a strong national pool of UAV professionals, the Gurgaon-headquartered firm said. AVPL deals in drone technology, precision agriculture, geospatial intelligence, defense, and other drone-based solutions such as mapping, scanning, and surveillance.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Energy giant Shell deepens India market reach through Raj Petro acquisition
Global energy giant Shell has acquired Mumbai-based Raj Petro Specialities to deepen its foothold in the world's third biggest lubricants market in the world, a top company official said. Shell, which has already invested over $5 billion in India across the energy value chain -- from LNG import terminals and fuel stations to renewable energy and technology centres -- has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group. "I think the acquisition of Raj Petro marks a very important and a significant milestone for the lubricants business in the country. India is the third biggest lubricants market and from our strategic intent India is one of the important growth markets. "So we have always been looking at ways by which we can serve more consumers with more products at the right price points," said Mansi Madan Tripathy, Chairman of Shell Group of Companies in India and Vice President - Lubricants Asia Pacific. Without disclosing financial details of the transaction, she said the acquisition of Raj Petro Specialities by Shell Lubricants supports its plans to grow its portfolio and customer base in India, which is one of its key growth markets. Raj Petro, which has manufacturing facilities at Chennai and Silvassa, offers a wide range of products - from transformer oil to petroleum jellies, white oils, waxes and lubricants. The more than 80-year-old Mumbai-headquartered firm was acquired by Germany's Brenntag in 2017-18. Shell has a lubricant oil blending plant at Taloja, Maharashtra, and a 200-plus distributors network which will be further strengthened with the addition of Raj Petro. "Raj Petro adds a new portfolio which is in growing sectors of pharmaceuticals, in personal care, power transmission and white oils which then adds on to our current portfolio to delight our customers in new ways," she said, adding it will help Shell realise new synergies and economies of scale across the lubricants value chain. India is the world's third largest lubricants market and is one of the four focus countries for Shell Lubricants' business growth strategy. It serves close to 50,000 outlets through a network of 200 B2C and B2B distributors. The firm already has long-standing partnerships with OEMs which help it co-create energy solutions. These include some of the world's top automotive manufacturers like Maruti Suzuki, Hyundai Motors, Mahindra Auto, Nissan Motor Corporation, BMW and industrial customers such as Volvo, John Deere, Komatsu and Thermax. Shell is already expanding its portfolio with innovative solutions, including cooling fluids specifically designed for data centres. The acquisition of Raj Petro Specialities enables Shell to create more value by growing its lubricants portfolio and customer base in India. "We also believe that because of the scale, we will also be able to derive synergies through the entire value chain. So from both the customer lens and operational efficiency lens, we do believe that it is going to add significant value for India's lubricants growth plans which is already on a very strong footing but it will take us to a new acceleration," Tripathy said. She said Raj Petro brings with it a robust operational backbone with two manufacturing plants in Chennai (Tamil Nadu) and Silvassa (Union territory of Dadra and Nagar Haveli and Daman and Diu) with a total production capacity of 350,000 tonnes per annum along with R&D Centres. Raj Petro not just strengthens local footprint but also brings international presence too. "They are also present in 100 countries globally. So we will have to find the best synergies from a portfolio perspective and then see what will be the footprint from an exact numbers perspective," she added. This integration unlocks powerful synergies across product development, supply chain efficiency, and customer reach. Raj Petro's diverse portfolio - including white oils, petroleum jelly, and specialty products - enhances Shell's offerings and enables cross-sectoral growth.
India.com
an hour ago
- India.com
This company clocks 80 percent revenue growth in Quarter 1, to be debt free in FY26
शेयर बाजार में हाहाकार, अरबों डॉलर हुए स्वाहा New Delhi: PC Jeweller Ltd has reported around 80 per cent growth in revenue during the April-June quarter of this financial year on strong demand despite volatility in gold prices and said it will become debt free this fiscal. Delhi-based PC Jeweller has a total of 52 showrooms, of which 49 are company-owned. In a regulatory filing on Thursday, PC Jeweller informed that the company closed the April-June quarter on a very strong note clocking a robust performance. What did PC Jeweller say? 'Despite the volatility in gold prices, the company was able to achieve a standalone revenue growth of approximately 80 per cent, as compared to the corresponding quarter of the previous financial year,' PC Jeweller said. The company saw high demand for its products, as consumers purchased jewellery for weddings and festivals. 'Further, the company had already reduced its outstanding debts towards its bankers by more than 50 per cent during 2024-25,' PC Jeweller said. The company expressed confidence of becoming debt free in the current fiscal. 'For achieving its target, the company has further reduced its outstanding debts towards its bankers by another approximately 7. 50 per cent during the June quarter,' PC Jeweller said. The company said it continues to revamp and strengthen all the aspects of its operations. PC Jeweller said it is 'optimistic' about delivering exceptional performance in the upcoming quarters as well. How much profit did the company post? PC Jeweller had posted a consolidated net profit of Rs 577. 70 crore last fiscal. In the 2023-24 fiscal it reported a net loss of Rs 629. 36 crore. The company's total income jumped to Rs 2,371. 87 crore in 2024-25, from Rs 669. 87 crore in the preceding year. With PTI Inputs
