Avendus Capital Advises Diligent Power on Its Equity Raise From Warburg Pincus.

The Indian power sector is experiencing a significant growth phase –with high GDP growth resulting in an increased demand for electricity. Significant capacity additions will be required in generation, transmission and distribution to fulfil this demand and fulfill the Government of India‟s ambitious target of providing „Power for All‟. Diligent Power has planned significant long term initiatives to capitalize on the huge potential presented by the sector. We are delighted by Warburg Pincus‟ decision to invest in the company and welcome them as a partner on our exciting journey. We will benefit from the rich experience Warburg Pincus brings to the table.

Diligent Power has a clear and sound strategy to become a leading player in the sector. This transaction will provide capital essential for the timely execution of this strategy.