 "NuPower Renewables, Firstland Holdings")
The Kanodia family’s Firstland Holdings, whose investment in the controversial NuPower Renewables yielded no returns, is also the holding company for Matix Fertilisers and Chemicals.
Matix, which commenced commercial operations in October 2017, is projected to earn profits of Rs 873.6 million in 2018-19, rising to Rs 6 billion by 2027-28, show valuation documents filed with the Registrar of Companies.
The documents also show that the company has been valued at Rs 20.92 billion.
Firstland Holdings had also invested in the Deepak Kochhar-led NuPower Renewables. It held over Rs 3 billion worth of compulsorily convertible cumulative preference shares (CCPS) in the company.
NuPower Renewables
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