PE group Blackstone looks to make windfall gains, partially exit HPPL holdings

World’s largest private equity fund Blackstone Group is set to make one of its best returns from its biggest infrastructure bets in India as Hindustan Power Projects (HPPL), earlier known as Moser Baer Projects, gets set for an initial public offering (IPO).

HPPL, one of the largest solar power projects operators, will be looking to raise as much as Rs 3,200 crore in what could be one of the biggest infrastructure IPOs in recent years. This is a bold move, given that companies trying to make the most of an uptick in infrastructure and revival in investment appetite towards core assets and companies in India.

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