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.

Infrastructure Urban

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