Global investors inject ~USD 100mil in Moser Baer’s solar photo voltaic biz

by Dave

Global investors inject Rs 411 crore in Moser Baer’s solar photo voltaic business

Moserbaer India Ltd today announced that its wholly-owned photo voltaic subsidiary has entered into a definitive agreement to raise Rs 411 crore from a consortium of global investors including CDC group, Morgan Stanley and IDFC among others.

This agreement is to fund the subsidiary’s ambitious growth plans. The current transaction values Moserbaer’s photo voltaic business at Rs 6350 crore.

The company, headquartered in New Delhi, is the world’s second largest manufacturer of optical storage media like CDs and DVDs. The company recently transformed from a single business into other areas of operation like solar energy, home entertainment and IT peripherals and consumer electronics.