Brookfield is understood to have acquired a 51% stake in CleanMax Enviro (CleanMax Solar), while Axis Bank and HDFC Bank have forged an agreement to acquire a stake in the life insurance business of Go Digit.
Brookfield acquires 51% in CleanMax Solar
Canadian investment firm Brookfield is understood to have acquired a 51% stake in CleanMax Enviro (CleanMax Solar), per a report by The Economic Times.
The investment has pegged the valuation of the company at Rs 3,500-4,000 crore, the report added quoting sources.
CleanMax Enviro supplies renewable energy to commercial and industrial establishments. At present, it operates over 600 MW of large-scale solar and wind farms for supplying clean energy to its corporate customers.
According to information on its website, CleanMax has also installed over 600 rooftop solar projects for corporates, with a total rooftop solar operating capacity of 350+ MW across India, the UAE, and Thailand.
Axis, HDFC to pick 9.9% each in Go Digit Life Insurance
Axis Bank and HDFC Bank have forged an agreement to acquire a stake in the life insurance business of insurtech unicorn Go Digit.
According to a report by INC 42, the two Indian private lenders will be picking up a 9.94% stake each in Go Digit Life Insurance in lieu of Rs 69.90 crore separately.
Earlier this month, Fairfax and Virat Kohli-backed Go Digit made headlines when it refiled its preliminary papers to launch an IPO. It made certain changes to its employee stock appreciation rights scheme as the Indian capital markets regulator requested the company to resubmit the papers with specific modifications.
Go Digit had first filed its draft red herring prospectus (DRHP) in August last year to raise funds through an initial public offering.