IFC, GEF Clean Energy Fund To Invest $4.5Mn In Kalki Communication
by Charmi Gutka
Bangalore based IT services firm - @Kalki_CommunicatioT Pvt Ltd is raising $4.50Mn from IFC and GEF South Asia Clean Energy Fund, L.P for new product development and to grow the company's business development capabilities in new and existing markets.
IFC may invest $1.35Mn through quasi-equity or convertible instruments, while the balance $3.15Mn will be invested by GEF South Asia Clean Energy Fund.
Additionally, IFC & GEF may finance a second round of $2Mn and third round of $5Mn equity for use in further business development activities.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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