PE-VC Fund Investments
Aditya Birla Renewables raises Rs.3,000-Cr from Global Infra Partners
Mumbai-based Aditya Birla Renewables , a subsidiary of publicly listed Grasim Industries, has raised INR 3,000 crore (around USD 335 million) from Global Infrastructure Partners (GIP), a part of global investment firm BlackRock. The deal includes an initial commitment of INR 2,000 crore (around USD 225 million) with a greenshoe option for an additional INR 1,000 crore (around USD 110 million). Standard Chartered Bank served as the sole financial advisor to the transaction.Aditya Birla Renewables plans to use the new funds to expand its capacity to over 10 GW in India and establish a comprehensive renewables platform across major technologies, targeting both the commercial and industrial segments and utility-scale projects.
In Oct 2015, Aditya Birla Renewables had attracted about USD 22 M from Dubai-based Abraaj Group.
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