Birla secures $1.5 bn MUFG loan to buy Shell's Indian renewable assets

A unit of billionaire Kumar Mangalam Birla's conglomerate has secured around $1.5 billion in acquisition financing from Japan's Mitsubishi UFJ Financial Group (MUFG). The funds will be used to purchase Shell's renewable energy assets in India. The deal marks a significant move in India's fast-growing clean energy sector.