tate-run Convergence Energy Services Ltd (CESL) is looking to raise around $500 million ( ₹3,713 crore) from the sale of up to 50% stake in its decentralized solar and electric mobility business at the asset level. It is in discussions with both Indian and global investors, and has mandated Deloitte to run the sale process, said a top company executive. Earlier this month, CESL called for bids to buy 100,000 electric three-wheelers at an estimated cost of ₹3,000 crore—the largest such global tender. Besides, it is looking to raise $200 million, each, for supplying electric buses and two-wheelers, and setting up solar plants. CESL aims to have 200,000 electric two-wheelers and 300,000 three-wheelers across India.

Source: Mint August 16, 2021 18:45 UTC