Goldman Sachs plans $600m stake sale in ReNew Power

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FE Team | Published: May 28, 2018 22:04:41

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Goldman Sachs Group Inc.'s planned $600 million stake sale in ReNew Power Ventures Pvt. Ltd will mark the biggest exit for a private equity fund through an initial share sale in India, according to a dealstreetasia.com report published Monday.
ReNew Power, which filed its draft share sale documents on 8 May, is expected to sell shares worth around Rs7,500-8,000 crore in the IPO.
"The IPO is largely an offer for sale, which again is largely Goldman Sachs looking to offload a large chunk of its shareholding," a person aware of the company's IPO plans said on condition of anonymity.