Sembcorp Green Infra, the Indian renewable energy arm of Temasek-backed Sembcorp Industries, has filed for an initial public offering in Mumbai to raise up to 37.5 billion rupees ($393.04 million), draft papers dated Wednesday showed.The IPO consists entirely of new shares, with Sembcorp Industries, which fully owns the company, not selling any shares. About 30 billion rupees of the proceeds will go towards repaying debt.The filing marks Sembcorp's second attempt to take its Indian energy business public. In 2018, the company, then known as Sembcorp Energy India, filed draft papers before withdrawing them a year later, saying it was injecting new equity into the business.Axis Capital, Citigroup, CLSA, HSBC, ICICI Securities, IIFL Capital Services and Kotak Mahindra Capital are managing the issue.
Sembcorp Green Infra files for $393 million India IPO
Sembcorp Green Infra has announced its intention to launch an initial public offering in Mumbai, aiming to gather as much as 37.5 billion rupees. Of this amount, around 30 billion rupees will be allocated toward settling debts. This move marks the company's second shot at making its Indian energy division public, with several financial institutions overseeing the upcoming share sale.
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