CDPQ buys add'l 10% in Mumbai-based Apraava Energy at Rs 660 cr deal value

With this, the Canadian pension fund's stake in the firm goes up to 50%

Canadian pension fund CDPQ has increased its stake in Mumbai-based Apraava Energy to 50 per cent by acquiring an additional 10 per cent stake from shareholder CLP for Rs 660 crore.

The company, formerly called CLP India, will become a 50:50 joint venture with the deal, CLP said in a notification to the Hong Kong Stock Exchange on Tuesday.

CDPQ had acquired 40 per cent stake in Apraava in 2018 for Rs 2,645 crore, with CLP (formerly China Light & Power) retaining 60 per cent stake back then. The Hong-Kong-listed CLP Holdings is amongst the largest foreign investors in