Please use this identifier to cite or link to this item: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/4485
Title: ReNew Power: Listing through SPAC
Authors: Banerjee, Ashok
Mukherjee, Somak
Keywords: SPAC
Valuation
Listing
Issue Date: 2022
Publisher: Indian Institute of Management Calcutta Case Research Center
Abstract: ReNew Power, one of India’s leading renewable energy company, shelved its plan for an initial public offering (IPO) in 2019. Two years later, in August 2021, ReNew Power got itself listed in the USA through a merger with RMG II, a special purpose acquisition company. ReNew Power’s Chairman was looking for listing mainly for two reasons- (a) to offer its existing investors an opportunity to divest a part of their holdings; and (b) to fund future growth. The company’s past attempts to raise money through domestic IPO in 2018 and through a strategic investor in 2020 had failed. So, it was in a hurry to raise funds and at the same time cautious whether the SPAC route would fetch a fair price for the company.
Description: Data Source :- Primary and secondary
Setting :- Field
Case Reference No. :- IIMC-CRC-2022-06
Case Length :- 21 Pages + Teaching Note
URI: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/4485
https://www.iimcal.ac.in/case-studies-lists#accordion-4
Appears in Collections:2022-23

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