Overseas investors need locals, says Bank of America’s Singhal
- BofA advised SoftBank on $3.5 billion deal with Adani Green
For international investors seeking a piece of India’s renewables boom — and the bankers who sit across the table with them — all roads go through the country’s domestic energy players.
That’s the message from Bank of America Corp.’s Gaurav Singhal, who leads the busiest team in India’s green energy M&A sector in the past 12 months, according to data compiled by Bloomberg.
The biggest of the deals saw the U.S. bank advising SoftBank Group Corp. on selling its renewables business in India to Adani Green Energy Ltd. at an enterprise value of $3.5 billion earlier this year.