Zelestra looks to sell India business for $400-500 mn

Multinational energy firm Zelestra has sounded out Brookfield, JSW Group, Sembcorp, Serentica and Macquarie for a potential sale of its India business, three people with knowledge of the development said.

- Sneha Shah & Ranjani Raghavan

Multinational energy firm Zelestra has sounded out Brookfield, JSW Group, Sembcorp, Serentica and Macquarie for a potential sale of its India business, three people with knowledge of the development said. "The initial outreach has been made. The formal process is likely to kickstart soon with the information memorandums to be sent out in the next few weeks," one of the three people said on the condition of anonymity. JP Morgan is helping the EQT-backed company find buyers, the person added.