ReNew Energy evaluates a revised $7.02 per share cash offer from a group led by Canada Pension Plan Investment Board and its founder.
ReNew Energy Global Plc (RNW) is reviewing a new $7.02 per share take-private proposal from a consortium including Canada Pension Plan Investment Board and company founder Sumant Sinha. The company confirmed ongoing discussions with the group, which submitted the revised cash offer on Tuesday.
The offer follows prior takeover interest in the Indian renewable energy firm, though no prior bid details were disclosed. ReNew Energy’s shares have traded below $7.00 in recent months, reflecting market volatility in the sector. The board has not yet responded to the proposal’s terms.
No immediate market reaction was reported following the announcement.