Kohlberg Kravis & Roberts (KKR) and the promoter of Avantha Power & Infrastructure (APIL) will be injecting $120 million in the Indian company, Economic Times reports. KKR will buy an 11% equity shares of APIL for $75 million, while the promoter’s holding firms will invest $45 million.
KKR invested $50 million in October to purchase a 9% stake in Gautam Thapar-controlled APIL. In the last fiscal year, APIL’s plan to go public with a $247.46 million offering fell through due to unfavorable market conditions.
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