CDPQ Increases its Stake in Azure Power
Azure Power Global Limited Equity Shares (AZRE)
Last azure power global limited equity shares earnings: 2/11 04:31 pm
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Source: PR Newswire
- CDPQ is now the majority shareholder with a stake of 50.9% NEW DELHI and MONTRÉAL, March 9, 2020 /PRNewswire/ -- Azure Power Global Limited (NYSE: AZRE), a leading independent solar power developer in India, announced that Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, acquired an additional 717,701 shares from a shareholder of AZRE. After acquiring the additional shares, CDPQ is the direct owner of 24,259,272 shares of AZRE, which represent 50.9% of the outstanding shares of Azure Power Global Limited. Speaking on this occasion, Mr. Ranjit Gupta, Chief Executive Officer, Azure Power said, "This new investment by CDPQ is a recognition of Azure Power's leading solar development platform in India. By having a majority shareholder with a long-term approach and a AAA credit rating, we will have better access to external capital further improving our future growth.""This additional investment represents a new chapter in our partnership with Azure Power,"
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