ReNew Power raises USD 300 mn via rights issue

Date posted: Monday 1 July 2019

Clean energy firm ReNew Power has raised USD 300 million (around Rs 2,050 crore) through a rights issue. Goldman Sachs, Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB) have subscribed to the issue, with each of the shareholders infusing USD 100 million. The rights issue involved ReNew Power issuing Compulsorily Convertible Preference Shares (CCPSs) to each of the investors which will be converted into equity at a subsequent stage.

(Business Standard)