ReNew Energy Global announces a share buyback worth $250 million

ReNew Energy Global (ReNew), the listed parent of Indian renewable energy company ReNew Power, has announced a share buyback worth $250 million just six months after getting listed on the Nasdaq index in the US.

In an exchange notification, ReNew said its board has authorised a new $250 million share repurchase program to buy back Class A ordinary shares.

The stock price of ReNew has fallen from its listing price of $11 apiece in August to $6.26 currently, which is a slight recovery from the low of $5.06 apiece it hit in December.

Moody’s Investors Service in a recent note said the share