Goldman Sachs backed ReNew Power Ventures Pvt. Ltd on Wednesday took a step closer to a US listing by announcing a merger agreement with RMG Acquisition Corp. II (RMG II), a Nasdaq-listed special purpose acquisition company (SPAC). While Goldman Sachs and Morgan Stanley are financial advisors to ReNew Power, Bank of America is the financial advisor to RMG II. ReNew Power had shelved its Indian IPO plan in 2019 amid volatility. The deal also comes against the backdrop of RMG Acquisition Corp. II closing its $345 million IPO in December.

Source: Mint February 24, 2021 14:14 UTC