ReNew's Private Buyout: A Bold Move in Renewable Energy Sector

Major investors in ReNew Energy Global propose a buyout, valuing the clean power firm at $2.82 billion. The move offers shareholders an 11.5% premium over NASDAQ's closing price, potentially lowering compliance costs and leveraging new funding opportunities. The deal, if approved, would see Japan's JERA exit its stake.

Major investors in ReNew Energy Global have put forward a proposal to take the clean power company private, SEC filings reveal. The deal values the firm at $2.82 billion, with Masdar, Canada Pension Plan, and others leading the offer.

The proposed purchase price of $7.07 per share provides an 11.5% premium over ReNew's closing rate on NASDAQ, marking a strategic move by the consortium, which controls 64% of the company's voting rights.

If accepted, this buyout could result in a reduced regulatory burden as ReNew steps away from public equity markets, potentially opening new funding avenues in the Middle East with Masdar as a key investor.

(With inputs from agencies.)