Aditya Birla Group flagship holding firm Grasim Industries Ltd on Tuesday (December 9) said Global Infrastructure Partners, part of BlackRock, will invest up to ₹3,000 crore in Aditya Birla Renewables Ltd, a subsidiary of the company, for a minority stake.

The investment includes a firm commitment of ₹2,000 crore and a greenshoe option of up to ₹1,000 crore. The investment will be made through GIP EM Star Pte Limited by way of one or more preferential issues on a private placement basis.

The ₹2,000 crore investment will be executed in multiple tranches through a combination of Compulsory Convertible Preference Shares and Equity Shares. GIP EM also has the option to invest an additional ₹1,000 crore through equity shares, on a pro-rata basis to its shareholding, subject to the terms o

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