A well-known businessman has landed a major deal. He requested a loan of ₹14,000 crore from banks. However, the banks have offered him a loan of ₹24,000 crore, not ₹14 crore.

Birla Group seeks Rs 14,000 crore loan from banks

On one hand, there are many businessmen in the country who have borrowed money from banks and then fled. On the other hand, there is an Indian businessman who requested a loan of 14,000 crore rupees, but the banks are offering him a loan of even more. Do you know who this businessman is? This businessman is none other than Kumar Mangalam Birla.

The Aditya Birla Group,
led by Kumar Mangalam Birla, has secured a major deal. The group's company, Aditya Birla Renewables, is set to acquire Shell's renewable energy assets in India. To complete this deal, the company is seeking a loan of approximately ₹14,000 crore. The offer from banks has surprised everyone.

According to people familiar with the matter, at least four banks have collectively offered a credit limit of approximately ₹24,000 crore (approximately ₹24,000 crore). This amount is approximately 70% more than the company needs. However, the full amount offered by the banks may not necessarily be actually disbursed as a loan.

Which bank offered how much?
Axis Bank and State Bank of India (SBI) have offered credit limits of approximately ₹7,000 crore each. Union Bank of India and PNB have pledged credit lines of approximately ₹5,000 crore each. Negotiations are also underway with several other major banks, including HDFC Bank and Kotak Mahindra Bank.

Birla Group to acquire Shell's 5 GW renewable assets
Aditya Birla Renewables will acquire a 100% stake in SolEnergy Power Pvt. SolEnergy owns Sprng Energy, which operates Shell's renewable energy business in India. The deal will give the Birla Group a renewable energy portfolio of approximately 5 GW. The interest rate on this loan is estimated to be between 7.6% and 7.7%. The loan tenure can range from 12 to 20 years.