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Sembcorp Industries raises stake in Green Infra to 65.12%
SEMBCORP Industries has raised its stake in its India renewable energy business after subscribing to the entire rights issue by the unit.
The group, through its wholly owned subsidiary Sembcorp Utilities, is investing 600 million rupees (S$12.2 million) for the rights issue of Sembcorp Green Infra, including the 35.94 per cent not taken up by Green Infra's other owner, IDFC Private Equity Fund III.
This brings Sembcorp Industries' stake in Sembcorp Green Infra to 65.12 per cent, from 64.06 per cent.
The firm is not expecting this to have a material impact on its earnings and net asset value per share for the current financial year.