Grasim's subsidiary ABReN to acquire Solenergi Power from Shell for INR 17,200 crore
GRASIM · price
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Aditya Birla Renewables (ABReN), a subsidiary of Grasim Industries, will acquire 100 percent of Solenergi Power Pvt Ltd (SPPL) from Shell Overseas Investment B.V. at an enterprise value of INR 17,200 crore (about 1.8 billion dollars), paid in cash. SPPL holds Sprng Energy and Sprng Solar Plus, with a renewable energy portfolio of about 5.0 GWp (3.3 GWp operational, 1.7 GWp under construction) and FY25 turnover of INR 1,253.4 crore. Combined with ABReN's existing 4.4 GWp, the platform will have about 9.4 GWp. Deal expected by December 31, 2026, pending CCI and other approvals.
Major renewable energy expansion for Grasim through subsidiary ABReN, nearly doubling its portfolio to about 9.4 GWp. No open offer triggered.