Aditya Birla Renewables secures Rs 25 billion via NCD issuance

27 Sep 2024 CW Team

Aditya Birla Renewables (ABReL), a subsidiary of Grasim Industries, has raised Rs 25 billion through the allotment of non-convertible debentures (NCDs) on a private placement basis. According to a statement by Grasim Industries, the company issued 2,50,000 unsecured, listed, rated, redeemable NCDs, each with a face value of Rs 1 lakh, on September 24, 2024.

The total amount raised includes a base issue size of Rs 2,000 crore, along with a green shoe option allowing an oversubscription retention of up to Rs 500 crore. The NCDs carry a coupon rate of 8.6% per annum and are set to mature on September 24, 2027.

Founded in 2011, ABReL is a prominent provider of solar, wind, and hybrid power solutions, serving both public and private sector clients across India. The company has completed 50 renewable energy projects across nine states.

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