Aditya Birla Renewables (ABReL), a subsidiary of Grasim Industries, has successfully raised Rs 25 billion through the issuance of non-convertible debentures (NCDs) via private placement. On September 24, 2024, the company allotted 2,50,000 unsecured, listed, rated, and redeemable NCDs, each with a face value of Rs 1 lakh. This move highlights ABReL’s strategic efforts to bolster its financial foundation.
The total funds raised include a base issue size of Rs 2,000 crore, with an additional green shoe option allowing the retention of oversubscriptions up to Rs 500 crore. The NCDs carry an annual coupon rate of 8.6% and are set to mature on September 24, 2027, providing investors with a clear return timeline.
Founded in 2011, ABReL has established itself as a leading provider of renewable energy solutions, specializing in solar, wind, and hybrid power. The company serves both public and private sector clients across India and has successfully completed 50 renewable energy projects spanning nine states, solidifying its role in the country’s clean energy landscape.
