ReNew Power announces RMG Acquisition merger for Nasdaq listing livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
Goldman-backed ReNew Power to list on Nasdaq via $8 billion SPAC deal
The fund proceeds will be used to support ReNew s growth strategy, including the buildout of its contracted, utility-scale renewable power generation capacity, as well as to reduce debt
Chitranjan Kumar | February 24, 2021 | Updated 19:52 IST
ReNew Power s deal with RMG Acquisition Corporation II is expected to close in the second quarter of 2021
ReNew Power, India s biggest renewable power producer, has decided to go public in the US through a merger with a special purpose acquisition company (SPAC) at a valuation of around $8 billion. Goldman Sachs Group-backed ReNew has entered into a merger agreement with RMG Acquisition Corporation II (RMG II) and the combined entity would be publicly listed on the Nasdaq, an American stock exchange. The deal is expected to close in the second quarter of 2021, subject to customary closing conditions.
Feb 24, 2021 09:21 am
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ReNew Energy is going public through a special-purpose acquisition company at a $8 billion valuation under ticker $RMGB. Sumant Sinha, Founder, Chairman, and CEO at ReNew Energy, joined Cheddar to discuss the deal.
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