Atria, Gaw Cap talks fall through

Bengaluru-based Atria Power, which operates several wind, hydro and solar power projects in India, is in early talks with both financial and strategic suitors, after its discussions with Hong Kong's asset manager Gaw Capital partners fell through recently, at least two people aware of the development told VCCircle.

- Debiyoti Roy

Atria was in advanced talks with Gaw Capital to dilute a majority stake, one of the people cited above said. However, the fund withdrew its proposal after the due diligence period, possibly because the promoters were not willing to a majority shareholding.