ReNew Power pins hopes on Nasdaq listing for funding need till FY25

In an investor call by ReNew and RMG, the firm said it expects revenues to grow 30 per cent until 2025

ReNew Power plans to take advantage of environmental, social and governance (ESG) investment that has caught on globally once it is listed on the Nasdaq, and is looking to meet its equity requirements till financial year 2024-25 (FY25) through this route.

In 2018, the firm had filed for an initial public offering (IPO) in India, but it was called off. The company is now taking the ‘special purpose acquisition company (SPAC)’ route to list at a valuation of $8 billion.

Speaking to Business Standard, Sumant Sinha, founder-chairman and chief executive officer, ReNew Power, said: “Global markets are very deep and the whole