Latest news with #StandardCharteredBank
Time of India
18 hours ago
- Business
- Time of India
Gentari seeks buyer for up to 50% stake in India arm
Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
Time of India
18 hours ago
- Business
- Time of India
Gentari plans to offload up to 50% stake in India arm
Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
Time of India
a day ago
- Business
- Time of India
Gentari plans to offload up to 50% stake in India arm
Gentari, the renewable energy arm of Malaysian national oil & gas company Petronas, is seeking to sell up to a 50% stake in its India unit in what could potentially become one of the largest green energy deals in the country, said people with direct knowledge of the matter. Gentari has appointed Standard Chartered Bank as its transaction advisor. Gentari India has a substantial portfolio comprising 4 GW of operational assets, 4 GW under construction, and an additional 4 GW in the pipeline, according to information shared by the transaction advisor with potential investors. For context, last December, JSW Energy agreed to acquire O2 Power's 4.7 GW portfolio, including 1.5 GW under construction and 1 GW of pipeline projects, at an enterprise value of $1.5 billion. Standard Chartered Bank has approached multiple potential buyers, including NTPC Green Energy , for the proposed stake sale, people said, adding that the discussions are at a very preliminary stage. Gentari global CEO Sushil Purohit is likely to visit India in the coming weeks to meet potential investors and accelerate the stake sale talks, the people said. Interested parties will be required to sign non-disclosure pacts to access Gentari's books as part of the due diligence process. Gentari would prefer to sell a minority stake in the India unit but is open to the idea of sharing control with a potential investor, people said. Gentari and Standard Chartered did not respond to ET's requests for comment. "There is no development or proposal underway regarding the stake asked in the query," NTPC Green said. People familiar with Gentari's discussions said valuations for green energy assets have waned since last year, as global enthusiasm for renewables has cooled and fossil fuel companies are under less pressure to decarbonise. Purohit told ET in February that Gentari's projects in India were developing well and that funding was not "a big challenge at this point in time." He said Gentari had the "full support" of parent Petronas. Since the return of pro-fossil fuel US President Donald Trump earlier this year, green energy has been losing the strong support it once enjoyed globally. Several oil and gas producers who ventured into renewables are now scaling back their ambitions, while buyers previously willing to pay a premium for green assets have turned cautious. Oil supermajors Shell and BP have weakened their green goals and are refocusing on expanding their core oil and gas businesses in pursuit of higher returns. Gentari operates across multiple countries in the Asia-Pacific region, with an ambition to install 30-40 GW of renewable energy capacity, capture over 10% market share in public charging points and vehicle-as-a-service segments in key markets, and become a major supplier of clean hydrogen. In India, Gentari has both utility-scale and distributed green energy projects. The company has also been expanding its EV charging network in partnership with local automakers and other stakeholders.
The Hindu
2 days ago
- The Hindu
Septuagenarian loses nearly ₹39 lakh in sextortion scam
A 70-year-old retired government employee from Hyderabad was duped of ₹39 lakh over a period of 15 months after falling prey to a sextortion scam. What began as a seemingly innocent Facebook friend request in January 2024, spiralled into a complex web of emotional manipulation, financial exploitation and blackmail. According to the victim's complaint, he accepted a friend request from a young woman who claimed to be from a financially distressed background. She alleged that her father had abandoned the family, and her mother worked as a tailor. She shared the contact number of a local cable operator, requesting help for a wi-fi connection. The victim paid ₹10,000, after which the woman ceased contact. The victim then contacted the cable operator who claimed that the girl had fallen seriously ill and needed intestinal surgery. Persuaded by his appeals, the victim transferred over ₹10 lakh in instalments for her supposed hospital bills and daily needs. He even couriered his Standard Chartered Bank credit card, from which ₹2.65 lakh was withdrawn. The man later told the victim he was travelling to Dubai and cut off all communication. The scam, however, took a darker turn. Messages continued from the same number, with individuals now claiming to be the cable operator's mother and sister. During chats, the victim was drawn into sexually explicit exchanges. He was then told that a complaint was being filed against him for inappropriate behaviour with a minor. A person claiming to be a police constable contacted him via Facebook, urging him to settle the matter privately. Driven by fear, the victim continued to send money - ₹12.5 lakh allegedly for the girl's education and to settle a loan, followed by another ₹10 lakh to avoid police action. Later, ₹1 lakh more was demanded by the same impersonated constable. The victim was further blackmailed by a new Facebook account, supposedly belonging to a newly-posted sub-inspector, who demanded ₹7.37 lakh to prevent action under the POCSO Act. On the night of April 25, 2025, the victim received a video call from the 'minor girl' but only he was visible on screen. The next day, he began receiving threats from a man claiming to represent the local police, demanding ₹6.5 lakh for the girl's grandfather and ₹20 lakh for the sub-inspector. A new round of threats followed, with the same demand and a June 25 deadline was set. In total, the victim has transferred ₹38,73,150 to the scammers. Following an online complaint by the victim, the cybercrime wing of the Hyderabad police booked a case and initiated an investigation. Police are currently verifying the complaint and suspect the involvement of an organised cyber fraud syndicate exploiting vulnerable individuals through emotional bait and impersonation of authority figures.
BusinessToday
7 days ago
- Business
- BusinessToday
Global Economic Plates Shifting: Investors Urged To Diversify Away From US Asset Concentration
The first half of 2025 will be remembered as a pivotal period where global economic tectonic plates shifted, setting the stage for a more balanced international order, according to a recent analysis by Standard Chartered Bank. The report suggests that the United States has scaled back its leadership role, compelling Europe and China to assume greater responsibility for driving global growth. For investors, Standard Chartered highlights three crucial takeaways: The 'Trump Put' is Alive: This implies that market discipline effectively constrains the Trump administration's policies. Investors should therefore avoid panic sales triggered by unpredictable political events and instead focus on hard economic data and investor positioning. China's Found US Vulnerability: China's strategic use of rare earth export restrictions has led to a preliminary agreement with the US, significantly reducing the likelihood of an all-out trade war. Germany is Finally Reflating: Europe's largest economy is now poised to contribute more significantly to global growth, driven by increased infrastructure and defense spending. These last two points, according to Standard Chartered, deliver a salient message to investors: avoid over-concentration in US assets. The bank suggests that diversifying into European banking and industrial sector equities, along with increased Japanese Yen (JPY) exposure, could be effective strategies to lower US concentration. The JPY and gold are also expected to benefit from any potential escalation in the Middle East. 'Trump Put' Curbs Market Volatility Standard Chartered's analysis notes that the significant scaling back of Trump's tariffs, following a market downturn in US stocks, bonds, and the dollar, confirms their core thesis: market discipline serves as a crucial check on the administration's policies. Furthermore, efforts by US Treasury Secretary Scott Bessent to re-incentivize US commercial banks to hold government bonds and increased government bond buybacks are expected to cap bond yields, addressing a key investor concern. Given these policy backstops, investors are advised to resist panicking during event-driven volatility stemming from 'unpredictable' US policy. Instead, the focus should remain on economic data, earnings reports, and investor positioning. Recent data, indicating a healthy but slowing US job market and continued disinflation despite tariffs, raises the probability of Federal Reserve rate cuts in the second half of the year. With investor positioning remaining uncrowded, there is still scope for upside in equities. Rare Earths Shift Trade War Dynamics China's dominant position in rare earths, producing approximately 60% and processing around 90% of the world's supply – crucial for defense, electric vehicles, robotics, and high-end electronics – has proven to be a strategic leverage point. In April, China restricted the exports of several rare earths and magnets in retaliation for US tariffs. This move eventually compelled the US back to the negotiating table, culminating in a preliminary agreement in London this week. China agreed to accelerate rare earth exports in exchange for the US easing controls on chip exports and reissuing visas for students, a development that significantly reduces the near-term risk of an all-out trade war. Germany's Reflation Aids Global Rebalancing The analysis points out that the Trump administration's policies have inadvertently pushed Germany, Europe's largest economy, to take on greater defense responsibilities and drive European growth. The current Merz-led coalition's plans for infrastructure and defense spending could potentially boost German growth by 2 percentage points annually over the next decade. With China also easing its fiscal policy, the significant gap in fiscal policy support between the US and the rest of the world, which largely drove the 'US exceptionalism' narrative in recent years, is expected to narrow. Investors are already beginning to factor this into their estimations, leading to a narrowing of earnings estimates between the US and the Euro area for 2026. Standard Chartered concludes by reiterating that while the US will remain a leader in delivering strong investor returns through innovation, productivity, and consumer power, its outsized performance relative to the rest of the world is likely to converge. As this gap narrows, funds that flowed from Europe and other regions to the US over the past decade are anticipated to return, suggesting a further decline in the US dollar. The overarching message for investors remains clear: diversify, diversify, diversify. Related
