US, France biggies lead race for Indian ‘waste co’
Mumbai: A US private equity firm, I Squared Capital, and environmental-services group Veolia have taken the lead in the race to acquire India's largest integrated waste management firm, Re Sustainability (ReSL). The consortium, however, has made a low-ball offer of Rs 10,000-11,000 crore for the company, which is well below the sellers' expectations of Rs 14,000-16,000 crore.
This valuation translates to 13-15 times FY27 EBITDA. KKR, which owns 60% of ReSL, has been actively pursuing other options to secure an exit, including discussions with Indian billionaires and business groups. Veolia, a global leader in environmental services, operates across 15 locations in India and treats nearly 1,000 million litres of water daily and processes around 91 million litres of sewage daily.
The industrial and biomedical waste management sector is expected to grow, driven by strong policy support, rising environmental awareness, and stricter compliance norms.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
