Aditya Birla Renewables Raises Rs 2,500 Crore via NCDs

Aditya Birla Renewables Ltd (ABReL), a subsidiary of Grasim, raised Rs 2,500 crore through the private placement of non-convertible debentures (NCDs). The NCDs have a face value of Rs 1 lakh each and carry an 8.6% coupon rate. The funds will support renewable projects across nine Indian states.

Aditya Birla Renewables Ltd (ABReL), a significant player in the renewable energy sector, has successfully secured Rs 2,500 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. This financial maneuver was disclosed by Grasim Industries in a recent filing.

ABReL, a subsidiary under the Aditya Birla group firm Grasim, detailed that the allocation included a base issue size of Rs 2,000 crore, along with a green shoe option to retain an oversubscription of up to Rs 500 crore.

The NCDs, each valued at Rs 1 lakh, have been rated, listed, and are set to mature on September 24, 2027, offering an annual coupon rate of 8.6%. Since its inception in 2011, ABReL has emerged as a leading supplier of solar, wind, and hybrid power solutions, executing 50 renewable projects across nine states in India.