Debt financing
Aditya Birla Group to raise Rs.24,000-Cr from 4 banks for Shell’s RE arm buy
Aditya Birla Group has received loan commitments totalling INR 24,000 crore from at least four banks to finance the acquisition of Solenergi Power, an entity that owns the Indian renewable energy assets of Shell This commitment amount is 70% higher than the initial funding planned by the conglomerate.Axis Bank and State Bank of India have each committed INR 7,000 crore, while Union Bank of India and Punjab National Bank have agreed to provide credit lines of approximately INR 5,000 crore each. The firm is also in talks with HDFC Bank and Kotak Mahindra Bank for additional credit facilities.
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