Sign In

Delhi News Daily

  • Home
  • Fashion
  • Business
  • World News
  • Technology
  • Sports
  • Politics
  • Lifestyle
  • Entertainment
Reading: ReNew shareholders raise offer for $880 million delisting – Delhi News Daily
Share

Delhi News Daily

Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Delhi News Daily > Blog > Business > ReNew shareholders raise offer for $880 million delisting – Delhi News Daily
Business

ReNew shareholders raise offer for $880 million delisting – Delhi News Daily

delhinewsdaily
Last updated: July 6, 2025 4:03 am
delhinewsdaily
Share
SHARE


A consortium of key shareholders of ReNew Energy Global has raised the offer price to $8 per share from $7.07 last December for buying out other shareholders in a $880 million bid to delist the company.

ReNew on Friday said it has received “a final non-binding offer” from the consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk, and ReNew founder and chairman Sumant Sinha, to acquire the entire issued and to-be-issued share capital of the company currently not held by them.

At $8 per share, the consortium will have to pay $880 million to other shareholders who together own 27.5% stake in ReNew. The revised offer lifted shares of ReNew, which closed 11% higher at $7.67 apiece on Thursday on the Nasdaq.

If the consortium succeeds in buying out all other shareholders, it will be able to delist ReNew shares from Nasdaq where it has underperformed since its listing in 2021.

exit route chartETMarkets.com

ET logo

Live Events

Policy support to the renewable energy sector has waned in recent months in the US after the return of President Donald Trump’s administration. Renewable energy producers however enjoyed a decent run in India’s private and public markets.

A special committee of independent directors was formed in December to consider the consortium’s proposal. The panel is in the process of evaluating the final non-binding offer, the company said. So far, no shares have been tendered by other shareholders to the consortium. The consortium engaged with the panel for months and undertook due diligence before deciding to revise its offer price.

“Our due diligence investigation has allowed us to assess the performance of the company and its outlook and refine our view on valuation,” the consortium wrote in an email to the committee on July 2, a copy of which has been filed with the US market regulator.



Source link

Share This Article
Twitter Email Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article News18 ‘Balasaheb Must Be Blessing Me’: Fadnavis ‘Thanks’ Raj Thackeray For Reunion With Uddhav – Delhi News Daily
Next Article ‘America Party’ launched: Musk hints at election plans; Can he run for president in 2028? | World News – Times of India – Delhi News Daily
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Israeli strikes kill 40 in Gaza, with no sign of breakthrough after Trump’s talks with Netanyahu – Times of India – Delhi News Daily
  • I regret for not winning an Olympic Medal for India: Sania Mirza – Delhi News Daily
  • Ship attacked by Yemen’s Houthi rebels sinks in Red Sea, six of 25 aboard rescued – Delhi News Daily
  • Kanhaiya Kumar, Pappu Yadav Denied Spot In Rahul Gandhi’s Vehicle? Sanjay Nirupam Jabs Congress – Delhi News Daily
  • Progress 92 Spacecraft Docks at ISS with Vital Supplies for Expedition 73 – Delhi News Daily

Recent Comments

No comments to show.

You Might Also Like

Business

G7 leaders want to contain the Israel-Iran conflict, as Trump calls for talks between the countries – Delhi News Daily

KANANASKIS, Alberta: The Group of Seven summit began in Canada on Monday with world leaders scrambling to contain the escalating…

8 Min Read
Business

Analysis shows Trump’s tariffs would cost US employers USD 82.3 billion – Delhi News Daily

An analysis finds that a critical group of US employers would face a direct cost of USD 82.3 billion from…

5 Min Read
Business

Quant Mutual Fund raises mid and small cap allocation across equity and hybrid funds, sees buying opportunity in 7 sectors – Delhi News Daily

Quant Mutual Fund has said their overall portfolio remains tilted towards largecaps, and the exposure in select mid and small…

7 Min Read
Business

Gulf ambassadors raise concern about safety of nuclear facilities amid Israel-Iran conflict – Delhi News Daily

Gulf Cooperation Council ambassadors have expressed concerns to U.N. nuclear watchdog chief Rafael Grossi about the safety of nuclear facilities…

1 Min Read

Delhi News Daily

© Delhi News Daily Network.

Incognito Web Technologies

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?