Actis is set to acquire a stake in GVK's power business for about Rs 1,000 crore. The deal is being finalised and would be done over the next six-eight weeks. GVK, which has lined up a slew of power projects, would leverage the expanded equity base to raise debt for funding the projects. The infrastructure group is implementing power generation projects that will have a combined installed capacity of 2,900 Mw, and was scouting for more opportunities across the country.
Actis, which focuses on emerging markets, had earlier indicated that India will have the highest share in its US$2.9-billion global fund. The share of the company's investment in India is expected to go as high as US$1.2 billion.
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