Grasim's renewables arm secures ₹2,500 crore investment from EMIL, GIP

Grasim Industries Limited announced two key investments totaling ₹2,500 Crores into its renewables subsidiary, Aditya Birla Renewables Limited (ABRen). Essel Mining & Industries Limited (EMIL), an Aditya Birla Group entity, will infuse ₹500 Crores via a preferential issue of equity shares within the current financial year 2026 to meet ABRen's urgent business needs.

Additionally, Global Infrastructure Partners (GIP), part of BlackRock, will invest up to ₹3,000 Crores, with an initial commitment of ₹2,000 Crores and a greenshoe option for another ₹1,000 Crores. This will be executed through GIP EM Star Pte Limited via one or more preferential issues of compulsory convertible preference shares and equity shares. The GIP investment translates into an enterprise value of ~₹14,600 Crores for ABRen.

Following both investments, ABRen will cease to be a wholly-owned subsidiary of Grasim but will continue as a subsidiary. ABRen currently manages a diversified pan-India renewable energy portfolio of ~4.3 GW across 10 states and aims for a capacity of 10 GW+ in the coming years.