IDFC Alternatives looks to exit Mytrah Energy

IDFC Alternatives, the asset management arm of IDFC Limited, is looking to exit its investment in Hyderabad-based renewable energy firm Mytrah Energy India, ahead of the company’s IPO. Mytrah is learnt to have started preparations for an IPO to raise $250 million-$300 million. It has hired investment banking firms Nomura Financial Advisory and Securities (India) Private Limited and IDFC Bank to manage the share sale. The firm, which started off as a wind power generator, entered the solar power business in 2016. Mytrah Energy operates about 920 MW of wind energy capacity and recently won projects for about 500 MW of solar energy capacity.

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