ReNew Power raises $300 million through rights issue

ReNew Power has announced raising $300 million through a rights issue. According to the press statement, Goldman Sachs, the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board have subscribed to the issue with each of the shareholders infusing $100 million into it. The rights issue involved ReNew Power issuing compulsorily convertible preference shares to each of the investors which will be converted into equity at a subsequent stage.

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