Aditya Birla Renewables Raises Rs 2,500 Crore via NCDs

New Delhi, Sep 25 (PTI) Aditya Birla Renewables Ltd (ABReL) has raised Rs 2,500 crore from markets through allotment of non-convertible debentures on a private placement basis.

ABReL is a subsidiary of Aditya Birla group firm Grasim.

The company allotted 2,50,000 unsecured, listed, rated, redeemable NCDs of face value of Rs 1 lakh each on September 24, 2024, Grasim Industries said in a filing.

The Rs 2,500 crore includes base issue size of Rs 2,000 crore and a green shoe option to retain oversubscription of up to Rs 500 crore.

The NCDs have coupon rate of 8.6 per cent per annum and would mature on September 24, 2027.

Founded in 2011, ABReL is a leading provider of solar, wind, and hybrid power solutions to public and private-sector customers across India.

It has implemented 50 renewable projects across nine states.