ReNew Energy Buyout Bid Rises to $880 Million as Investor Consortium Seeks Privatization – EQ
In Short : ReNew Energy Global’s consortium, led by Sumant Sinha and backed by Masdar, CPP Investments, and ADIA, has raised its buyout offer to $8 per share, valuing the company at $880 million. The revised bid represents a 26% premium over the undisturbed share price. A special committee will evaluate the proposal and guide shareholders during July.
In Detail : ReNew Energy Global has received an enhanced buyout proposal from a consortium led by its Chairman and CEO, Sumant Sinha. The group, which includes major investors such as Masdar, CPP Investments, and the Abu Dhabi Investment Authority (ADIA), has raised its offer to $8 per share. This move comes after an earlier offer of $7.07 per share.
The revised offer values ReNew at approximately $880 million and represents a 26% premium over the company’s undisturbed share price. This reflects the consortium’s strong confidence in ReNew’s long-term growth prospects and its commitment to taking the company private.
The offer is non-binding at this stage but signals growing momentum toward a potential privatization of one of India’s leading renewable energy firms. The consortium aims to streamline strategic decision-making and accelerate growth by removing the limitations of public market reporting requirements.
A special committee of ReNew’s board has been set up to evaluate the proposal. This committee, comprised of independent directors, will assess the fairness and strategic rationale of the offer and is expected to provide its recommendation to shareholders during July.
The proposal comes amid increased interest in India’s clean energy sector, with global investors seeking to consolidate their stakes in promising green energy platforms. ReNew’s extensive portfolio of solar and wind assets makes it a prime target for long-term infrastructure capital.
As the evaluation process unfolds, shareholders and analysts will closely watch for further developments. If accepted, the buyout could lead to ReNew’s delisting from the NASDAQ, returning it to private ownership with potentially more flexibility to pursue aggressive expansion.
