Mumbai: Promoters of the Brookfield Corp-backed renewable energy company, CleanMax, have raised ₹400 crore from 360 One Asset Management to increase shareholding in the company in a pre-IPO funding completed last month. Founder Kuldeep Jain will raise stake from 14% to 21%. The money raised at 13% interest for 3 years will be repaid from IPO proceeds, people familiar with matter said.
“The promoter is looking to fortify his stake before the imminent listing, the DHRP of which is likely to be filed later this year,” said a person. “The increase in stake through private transactions will ensure promoter stake remains around 15% even after a likely offer for sale in the IPO.” A CleanMax spokesperson did not respond to an email seeking comment. A 360 One spokesperson said he had no comments to offer to ET’s email query.
