Aditya Birla Renewables, a wholly owned subsidiary of Grasim Industries Ltd under the Aditya Birla Group, announced that BlackRock’s infrastructure fund will invest approximately ₹2,000 crore ($222.5 million) to acquire a minority stake in the green-energy company.
Investment Details
- Investor: BlackRock Global Infrastructure Partners
- Initial Investment: ₹2,000 crore (~$222.5 million)
- Greenshoe Option: Additional ₹1,000 crore (~$112.5 million), raising potential total investment to ₹3,000 crore (~$335 million)
- Company Valuation: ₹14,600 crore including debt
Strategic Significance
The investment marks a significant endorsement of Aditya Birla Renewables’ growth in the renewable energy sector. BlackRock’s participation not only provides capital for expansion but also strengthens the company’s positioning in India’s green-energy market. The greenshoe option allows for additional capital infusion, potentially enhancing project development and operational capabilities.
Aditya Birla Renewables continues to expand its footprint in renewable energy, contributing to India’s sustainable energy initiatives and the parent group’s long-term strategic objectives in clean energy.
Summary
BlackRock’s infrastructure fund will invest ₹2,000 crore ($222.5 million) in Aditya Birla Renewables, with an option to increase the investment to ₹3,000 crore ($335 million). The deal values the company at ₹14,600 crore and strengthens its growth prospects in India’s renewable energy sector.
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