Helion Venture Partners, Foundation Capital and IFC have invested around US$10 million in Azure Power, a solar power company that generates and supplies power to utility companies in four Indian states.
Helion and Foundation Capital were advised by a team from IndusLaw, led by partner Suneeth Katarki, with support from principal associate Satyasree Akella and associate Sarah Abraham.
IFC, a member of the Word Bank Group, was represented by Amarchand Mangaldas, which fielded a team led by private equity partner Ravindra Bandhakavi. The deal is IFC’s first clean technology investment in South Asia.
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