A wholly owned subsidiary of Sembcorp Industries (Sembcorp), Sembcorp Utilities has entered into an agreement for acquiring the remaining stake of IDFC Private Equity Fund III (IDFC) in Sembcorp Green Infra (SGI) for Rs 1,410.2 crore (approximately 301 million Singapore dollars).

Sembcorp, with this, is going to become the sole owner of SGI.

An official announcement said that “Pursuant to the prevailing shareholders’ agreement between the parties, Sembcorp Utilities has exercised its contractual right to acquire IDFC’s remaining shares in SGI. The consideration for the acquisition was agreed between the parties based on, amongst others, comparable market valuations, and an assessment of SGI’s assets and business prospects.”

Read EquityPandit’s Technical Analysis of Indian Stock Market