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ReNew Power, an Indian renewable energy pure-play, is expected to get listed on Nasdaq through the back door with the help of SPAC RMG Acquisition Corp II (NASDAQ:RMGB) at the beginning of the third quarter of 2021. This raises the question if ReNew is just another SPAC that will disappoint investor expectations? In my analysis I underpin the resilience of the company's business model and I argue that its valuation is relatively cheap at the current price.
