{"id":400366,"date":"2021-02-15T10:36:21","date_gmt":"2021-02-15T05:06:21","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=400366"},"modified":"2021-02-15T10:36:21","modified_gmt":"2021-02-15T05:06:21","slug":"renew-power-eyes-us-listing-via-spac-at-4-bn-valuation","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/renew-power-eyes-us-listing-via-spac-at-4-bn-valuation\/","title":{"rendered":"ReNew Power eyes US listing via SPAC at $4 bn valuation"},"content":{"rendered":"<p>MUMBAI : ReNew Power Pvt. Ltd is planning to list its shares in the US through the fast-emerging SPAC (special purpose acquisition company) route at a valuation of almost $4 billion, two people aware of the development said.<\/p>\n<p>The company, one of India\u2019s largest renewable energy firms, is in talks to merge with RMG Acquisition owned by Nasdaq-listed SPAC Riverside Capital Management, the people cited above said on condition of anonymity. ReNew Power had shelved its Indian initial public offering plan in 2019 amid market volatility.<\/p>\n<p>As per Securities Exchange Commission rules, while Riverside will hold up to 20% in the newly listed avatar of ReNew Power, Goldman Sachs along with CPPIB, ADIA and the company\u2019s founder-cum-chairman Sumant Sinha will hold the rest 80%, one of the two people cited above said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI : ReNew Power Pvt. Ltd is planning to list its shares in the US through the fast-emerging SPAC (special purpose acquisition company) route at a valuation of almost $4 billion, two people aware of the development said. The company, one of India\u2019s largest renewable energy firms, is in talks to merge with RMG Acquisition owned by Nasdaq-listed SPAC Riverside Capital Management, the people cited above said on condition of anonymity. ReNew Power had shelved its Indian initial public offering plan in 2019 amid market volatility. As per Securities Exchange Commission rules, while Riverside will hold up to 20% in [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-400366","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/400366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=400366"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/400366\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=400366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=400366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=400366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}