Key shareholders raise offer price to take ReNew private

REVISED PROPOSAL GIVES 15.3% INCREASE OVER FIRST ONE

- RAGHAVENDRA KAMATH

RENEW ENERGY GLOBAL on Tuesday announced that it had received a final nonbinding proposal from its key shareholders — Abu Dhabi Future Energy Company-Masdar, Canada Pension Plan Investment Board (CPPIB), Platinum Hawk, and Sumant Sinha, the founder, chairman and CEO of ReNew — to acquire the shares of the company for a consideration of $8.15 per share.

“This represents an increase of $1.08 per share, equivalent to 15.3%, from the initial nonbinding proposal dated December 10, 2024,” ReNew said.