ReNew gets final non-binding offer to acquire share capital of company

Clean energy firm ReNew on Thursday announced it has received a final non-binding offer to acquire the entire issued and to be issued share capital of the company not already owned by members of the consortium for cash consideration of $8 per share.

The offer has been received from Abu Dhabi Future Energy Company PJSC-Masdar (Masdar), Canada Pension Plan Investment Board (CPP Investments), Platinum Hawk C 2019 RSC Limited as trustee for the Platinum Cactus A 2019 Trust (Platinum Hawk) and Sumant Sinha (the Founder, Chairman and CEO of ReNew), the company said in a statement.

The consortium includes Sinha together with Masdar, CPP Investments and Platinum Hawk.

The final non-binding offer represents a 26.2 per cent premium versus the undisturbed share price of $6.34 on December 10, 2024, being the closing share price prior to the initial non-binding proposal becoming public and a 38.9 per cent premium to the 30-day volume-weighted average price of $5.76 per share (as of December 10, 2024).

The company’s Board of Directors had earlier formed a Special Committee to consider the proposals received from the Consortium.

The Special Committee is in the process of evaluating the final non-binding offer alongside its independent financial advisor, Rothschild & Co and independent legal counsel, Linklaters LLP.

Active discussions with the Consortium remain ongoing and the Special Committee will provide an update to the market as soon as reasonably practicable.

Published on July 4, 2025