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<ul><li><keyword id="15605437" type="General" weightage="100" keywordseo="blupine" source="Orion">BluPine</keyword> Energy said that it has completed the acquisition of 404 megawatt operating solar power assets from <keyword id="6348104" type="General" weightage="80" keywordseo="atha-group" source="Orion">Atha group</keyword>. </li><li>The acquisition will help BluPine towards its target of achieving 4 gigawatts of capacity over the next four to five years.</li><li>Actis has committed to invest up to $800 million in BluPine through Actis’ Energy 5 Fund.</li></ul> Renewable company BluPine Energy completed the acquisition of a 404 megawatt (MW) operating, pan-India solar power portfolio from the Atha Group, it said on Thursday. The financials of the transaction were not mentioned. The acquisition will help BluPine towards its target of achieving 4 gigawatts (GW) of capacity, in the next four to five years. “We are delighted to complete this transaction which not only brings significant utility-scale solar capacity of 404 MW, but also provides the seed assets for BluPine Energy and increases our geographical footprint. In addition to deepening our renewable energy capabilities, it positions us well to meet our aggressive growth objectives in line with our business plan,,” said Neerav Nanavaty, CEO at BluPine. The company, which is backed by PE major Actis, was launched last year. Actis has committed to invest up to $800 million in BluPine through Actis’ Energy 5 Fund. The fund represents $6 billion of investable capital, and is focused on investing in global energy transition opportunities. “With energy demand increasing by 5-6% every year, it’s vital that India can meet the electricity needs of its population. BluPine Energy will build wind, solar and storage capabilities that deliver clean, reliable power across India with a core focus on sustainability and positive impact,” said <keyword id="1717802" type="General" weightage="50" keywordseo="sanjiv-aggarwal" source="Orion">Sanjiv Aggarwal</keyword>, partner of energy infrastructure at Actis. Kotak Investment Banking advised BluPine and <keyword id="6429146" type="General" weightage="50" keywordseo="avendus-capital" source="Orion">Avendus Capital</keyword> advised Atha Group on the transaction. Actis’ energy team invests on a global scale in buy-and-build power generation and distribution businesses. It has invested in over 70 renewable energy projects to date, with approximately 12GW of renewable energy capacity globally and is targeting another 12.5GW. “Non-fossil fuel based power generation is key to India achieving its net-zero emissions goal and Atha Group is proud to have contributed towards this goal,” said Gaurav Atha, promoter of Atha Group.

Actis backed BluPine Energy acquires 404 MW solar power assets

<ul><li>Tobacco giant <keyword id="6357073" type="General" weightage="100" keywordseo="itc" source="Orion">ITC</keyword> today announced the acquisition of a 10% stake in its second direct-to-consumer brand, <keyword id="13666229" type="General" weightage="80" keywordseo="mylo" source="Orion">Mylo</keyword>. </li><li>Earlier, the tobacco-to-paper company had picked up a stake in <keyword id="6893485" type="General" weightage="50" keywordseo="mother-sparsh" source="Orion">Mother Sparsh</keyword>, which also caters to a similar audience. </li><li>Mylo is a mom-and-child care brand that leverages the learn-share-buy philosophy to drive engagement on its platform as well as sales. </li></ul>Tobacco-to-paper giant ITC has acquired a 10% stake in Mylo, a direct-to-consumer brand that focuses on mom and child care needs, the company revealed in an exchange filing on Thursday. The <keyword id="4147878" type="General" weightage="20" keywordseo="ITC-share-price" source="Orion">ITC share price</keyword> was marginally up as of 1 p.m., on April 21. <div type="image" title="ITC 01_01_22 to 21_04_22." msid="90975767" hostid="261" caption="&amp;lt;p&amp;gt;ITC share price in 2022 so far&amp;lt;/p&amp;gt;"></div> According to the announcement, the 10% stake in Mylo cost ITC ₹40 crore, valuing the mom-and-child care brand at approximately ₹400 crore. The acquisition expands ITC’s footprint in the direct-to-consumer (D2C) business segment. Mylo, founded in 2017, focuses on young parents by offering them mother and child care options, community connect and more. This is ITC’s second such stake acquisition in this segment. <a href="https://www.businessinsider.in/business/corporates/news/itc-to-acquire-16-stake-in-mother-sparsh-that-focuses-on-baby-care-segment/articleshow/87929882.cms">Earlier in 2021</a>, the tobacco giant had acquired a 16% stake in another mother care brand called Mother Sparsh for ₹20 crore. “Within a short period of time, Mylo has demonstrated great potential in the evolving Content-to-Community-to-Commerce model by nurturing an online platform where people learn, share, trust and belong,” said <keyword id="314869" type="General" weightage="50" keywordseo="sameer-satpathy" source="Orion">Sameer Satpathy</keyword>, chief executive of the personal care business vertical of ITC. He also highlighted that the Mylo stake acquisition will help ITC strengthen its focus on this business segment, leveraging the expertise of Mylo. <cmsannotation type="cmsannotation" annotationid="Understanding Mylo’s community-driven platform" comment="subhead" text="Understanding Mylo’s community-driven platform">Understanding Mylo’s community-driven platform</cmsannotation> Mylo is a brand established by Blupin Technologies in 2017. It is a community-driven platform that leverages the concept of learn-share-buy, meaning community members help each other understand their needs and buy products accordingly. According to the company, Mylo users have posted over 22 lakh questions till date, with over 1.6 crore answers and 3.7 crore pieces of content. Mylo currently sells natural and chemical-free personal care products, other essential daily use products, and other ayurvedic alternatives. It currently has a portfolio of over 100 products across the Mylo Care, Essentials and Veda brands. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/investor-bill-ackman-booked-a-400-million-loss-on-his-billion-dollar-netflix-investment/articleshow/90973051.cms">This billionaire investor booked a $400 million loss on his billion dollar Netflix investment</a> <a href="https://www.businessinsider.in/stock-market/news/tata-elxsi-doubled-both-company-and-investors-profit-in-a-short-period-of-time/articleshow/90975165.cms">This multibagger Tata Group stock doubled investors’ wealth in a year</a> <a href="https://www.businessinsider.in/tech/apps/news/google-is-killing-call-recording-apps-on-android-phones-from-may-11/articleshow/90974410.cms">Google is killing call recording apps on Android phones from May 11</a>

ITC acquires a 10% stake in this mom-and-child care brand as it looks to hop onto the D2C train

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Actis backed BluPine Energy acquires 404 MW solar power assets

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ITC acquires a 10% stake in this mom-and-child care brand as it looks to hop onto the D2C train

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