At $1.4 billion, a massive jump in infrastructure investments supported the overall deal activity.
Existing investors Adar Poonawalla, the Patni family and Nordic Microfinance Initiative backed the round.
The fund was backed by IIFL Holdings, Yes Bank, Max India, impact investment firm Gray Matters Capital and Hyundai.
Thirty per cent of all investment-grade securities bore sub-zero yields.
The Masdar-Hero deal marks a rare entry of a new growth equity investor in an Indian renewable energy producer in recent times.
The deal is likely valued at over $500 million.
The investment comes at a time when the Jeff Bezos-owned e-commerce giant’s India business cut its losses.
Razorpay has so far raised $75 mn in 2019, emerging as the highest funded B2B fintech startup for the calendar year.
PE exits have dropped by 70% so far this year amid volatile market.
Social e-commerce startups have raised $157 million from venture investors this year.
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