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ReNew Plans India IPO, to Delist from Nasdaq

ReNew, a major player in India’s renewable energy sector, is preparing to launch its Initial Public Offering (IPO) in India while also planning to delist from the US Nasdaq exchange, according to sources. The company has already chosen investment bankers for the process, with JM Financial as the local adviser and Goldman Sachs among the global advisers.

ReNew’s move follows a buyback offer in July 2025 from its promoter consortium — which includes founder and chairman Sumant Sinha, Abu Dhabi’s Masdar, Canada Pension Plan (CPP), and Abu Dhabi Investment Authority (ADIA) — to purchase Nasdaq-listed shares at $8 per share, a $0.93 increase from their earlier offer in December 2024.

A special committee of six independent non-executive directors has been formed to evaluate the consortium’s proposals. The valuation for the India IPO is still being finalised.

ReNew first listed on Nasdaq on August 24, 2021 under the ticker RNW, and later rebranded itself in February 2023. This India listing could help the company tap domestic investors, improve liquidity in its home market, and align better with its core business operations in India’s fast-growing renewable energy sector.