Key Points
Canadian investment firm Alberta Investment Management Corporation (Aimco) and a few other investors have expressed interest to pick up a significant minority stake in Aditya Birla Group's renewable energy business, two people aware of the development told ET...
The conglomerate is looking to sell up to 49% stake in Aditya Birla Renewables Ltd (ABREL) to raise about $400 million to build renewable capacities to meet its decarbonisation ambitions, the sources said..
Standard Chartered Bank is advising on the fundraise, the person said.. Focus on captive projects..
ABRELs captive power procurers include Aditya Birla Group companies such as Grasim, UltraTech Cement, Hindalco Industries and Century Enka..
Close to half of the companys current portfolio, both operating, under construction are captive projects for the Aditya Birla Group, the person quoted above said.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
You might be interested in
Aditya Birla Group forays into branded jewellery retail business, to invest Rs 5,000 cr
06, Jun, 23The Aditya Birla Group has announced that it will foray into the branded jewellery retail business with an investment of around Rs 5000 crore. This business will be housed in a new venture, “Novel Jewels Ltd”, that will build large-format exclusive jewellery retail stores across India, with in-house jewellery brands.