India Grid Trust (BSE:540565) agreed to acquire Renew Solar Urja Private Limited from ReNew Energy Global Plc (NasdaqGS:RNW) for enterprise value of $200 million on January 8, 2024. The transaction is for a total enterprise value of $199 million. Approximately $8 million is expected to be additionally received as an earn-out on account of change-in-law proceeds, after the first payment is realized by Renew Solar Urja. The acquisition is to be funded through external debt. The transaction is expected to close in accordance with PPA conditions.

India Grid Trust (BSE:540565) completed the acquisition of Renew Solar Urja Private Limited from ReNew Energy Global Plc (NasdaqGS:RNW) for enterprise value of approximately $190 million (INR 15.5 billion) on February 23, 2024. Vishnu Sudarsan, Shashank Vikram Singh, Kartikeya GS, Poonam Verma Sengupta, Upendra Nath Sharma and Bharat Bhushan Sharma of J. Sagar Associates acted as legal advisor to India Grid Trust.