Sundrops Energia has spent the last two years turning itself from a small solar contractor into the KP Group's battery storage arm, and its latest move is the clearest sign yet that a listing is close.
Chief Investment Officer Rajeev Thakkar sold about 0.33 percent to WhiteOak Capital's alternative investment fund for about ₹52 crore, valuing it at almost ₹15,800 crore
Of the ₹100 crore, approximately ₹35 crore comes from ValueQuest Scale Fund II, managed by Quest4Value Investment Managers LLP. The remaining ₹65 crore comes from Kalpraj Damji Dharamshi, Harsha Hemang Dharamshi, and Paolomi Kalpraj Dharamshi, jointly holding on behalf of Tidecrest Partners. The Dharamshi family are the promoters of ValueQuest Investment Advisors, a Mumbai-based investment management firm with total assets under management of approximately $3 billion.