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ReNew Energy Receives Revised Acquisition Proposal from Masdar, CPP Investments, ADIA, and Founder Sumant Sinha

ReNew Global Energy has received a final non-binding acquisition proposal from a consortium comprising Abu Dhabi Future Energy Company PJSC (Masdar), Canada Pension Plan Investment Board (CPP Investments), Platinum Hawk C 2019 RSC (a subsidiary of the Abu Dhabi Investment Authority – ADIA), and Sumant Sinha, the company’s Founder, Chairman, and CEO.

The consortium’s latest proposal, dated October 10, 2025, offers to acquire all outstanding shares of ReNew not already owned by its members for USD 8.15 per share in cash.

This represents an increase of USD 1.08 per share (15.3%) over the initial non-binding proposal submitted on December 10, 2024. The revised offer also marks a 28.5% premium over ReNew’s closing share price of USD 6.34 on December 10, 2024, and a 41.5% premium compared to the 30-day volume-weighted average price (VWAP) of USD 5.76 per share as of that date.

To assess the proposal, ReNew’s Board of Directors established a Special Committee led by Manoj Singh, the company’s Lead Independent Director. The committee comprises six independent non-executive directors and is supported by Rothschild & Co as the independent financial advisor and Linklaters LLP as independent legal counsel.

The Special Committee is currently evaluating the revised proposal and engaging in active discussions with the consortium. A conclusive update will be shared once the evaluation process is complete.

ReNew emphasized that there is no assurance regarding the outcome, terms, or completion of any potential transaction arising from this revised proposal. The company stated that further announcements will be made as and when required.