The curious case of Rajesh Mehta’s ‘ ₹50,000 crore’ battery business
Read at Mint1 source covering
In 3 bullets
- ●Elest, a company with no operations, has an agreed supply of land, machinery, and technology for a battery business.
- ●Three funds invested ₹1,250 crore over three years, contributing to Elest's steep valuation.
- ●Elest is connected to ACC Energy Storage Pvt. Ltd, the battery business of publicly listed Rajesh Exports.
All 1 source
Mint10 Jun
The curious case of Rajesh Mehta’s ‘ ₹50,000 crore’ battery business ↗An investment of ₹1,250 crore by the three funds over three years explains the steep valuation of Elest, a company that has no operations but has agreed to supply land, machinery and technology for ACC Energy Storage Pvt. Ltd, the battery business of publicly listed Rajesh Exports
Tags