Aditya Birla Renewables Limited (ABREN), a Grasim subsidiary, has finalised an investment of up to Rs 30 billion from Global Infrastructure Partners. The arrangement includes a commitment of Rs 20 billion, along with a greenshoe option for an additional Rs 10 billion.
The investment translates into an enterprise value of around Rs 146 billion for ABREN. Furthermore, the investment is among the largest primary minority-stake investments in an Indian renewables platform.