Sembcorp raises stake in India energy arm to 94.05% with S$102 mil investment

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(July 10): Sembcorp Industries has pumped in more funds to support the growth of its India renewable energy business.

This was done through the subscription of 275 million shares in Sembcorp Energy India Limited (SEIL), for a total of INR516.9 crores (S$101.6 million) by Sembcorp Utilities (SCU) wholly-owned subsidiary of SembMarine.

The investment raises Sembcorp’s effective stake in its India energy arm, Sembcorp Energy India Limited (SEIL), to 94.05% from 93.73%.

The balance of the shares in SEIL is owned by SCU’s local partner, Gayatri Energy Ventures Private Limited.

In India, SEIL has a...(click on link for full story on theedgesingapore.com)