Renew Energy Global PLC

ReNew Energy Global Plc reported first quarter fiscal 2027 results with adjusted EBITDA up 12% year-over-year to INR 30.4 billion and profit after tax up 16% to INR 6 billion. Operating capacity stood at 13.5 gigawatt, which is up 26% year-on-year adjusted for asset sales and 22% on a net basis. The company also announced a binding take-private agreement with a consortium of CPPIB and founder Sumant Sinha, offering non-consortium shareholders $7.02 per share in cash or a rollover option. ReNew reiterated full-year adjusted EBITDA guidance of INR 103 billion to INR 109 billion and expects to construct 1.6 to 2.4 gigawatts during the fiscal year.

ReNew Energy said Tuesday it is evaluating a new $7.02 per share takeover offer from a consortium led by Canada Pension Plan Investment Board and ReNew Energy founder Sumant Sinha, with active discussions ongoing. The revised cash offer represents a 30% premium over the volume-weighted average price of $5.38 per share since December 15, when SEC filings indicated a Masdar-led consortium would no longer pursue its acquisition, through May 28, the last trading day before the consortium submitted the May proposal letter.