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ReNew Energy Global ( (RNW) ) has issued an update.
ReNew Energy Global Plc has announced an agreement in principle regarding the financial terms of a potential cash offer from a consortium including Masdar, CPP Investments, ADIA, and Sumant Sinha to acquire shares not already owned by them. The offer, valued at $8.15 per share, represents a significant premium over previous share prices. The Special Committee of ReNew, led by Manoj Singh, has indicated support for the offer, pending final terms and regulatory clearances. JERA Nex, a significant shareholder, is also inclined to support the offer if it proceeds to a formal vote, highlighting potential shifts in ownership and strategic direction for ReNew.
The most recent analyst rating on (RNW) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on ReNew Energy Global stock, see the RNW Stock Forecast page.
Spark’s Take on RNW Stock
According to Spark, TipRanks’ AI Analyst, RNW is a Neutral.
ReNew Energy Global’s overall stock score is driven by strong earnings call highlights and robust financial performance, despite challenges with high leverage and cash flow management. Technical indicators suggest potential short-term weakness, and valuation metrics indicate moderate attractiveness.
To see Spark’s full report on RNW stock, click here.
More about ReNew Energy Global
ReNew Energy Global Plc operates in the renewable energy industry, focusing on the development and management of clean energy projects. The company is involved in generating energy from renewable sources, contributing to sustainable energy solutions.
Average Trading Volume: 849,105
Technical Sentiment Signal: Buy
Current Market Cap: $2.75B
See more insights into RNW stock on TipRanks’ Stock Analysis page.