Resource detail

Hero Future Energies Pvt. Ltd is exploring a fresh stake sale in its clean energy business and has asked HSBC to find a buyer, two people aware of the development said. The size of the stake the promoters of unlisted Hero Future plan to sell and the valuation they are seeking could not be ascertained. Hero Future plans to sell the stake to raise growth capital for the company’s expansion. In November 2019, the company sold around a 20% stake for $150 million to Masdar, also known as Abu Dhabi Future Energy Co. The deal valued the New Delhi-based company at $750 million.