Aditya Birla Renewables seeks ₹14,517 cr for Shell India purchase
Business
Aditya Birla Renewables is gearing up to buy Shell's Indian renewable energy assets and needs nearly ₹14,517 crore loan to make it happen.
It has reached out to multiple banks such as SBI and HDFC Bank, aiming to lock in long-term funding for this $1.8 billion deal.
Aditya Birla Renewables plans 17-20 SPVs
Instead of sticking with their earlier bridge loan commitment from MUFG Bank, Aditya Birla Renewables plans to split this new loan across 17 to 20 special purpose vehicles, basically spreading the risk and covering about 80% of each project's lifespan.
This move should help them save on costs.
If all goes as planned and approvals come through, the acquisition should wrap up by the end of 2026.