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Sembcorp Green Infra IPO: Rs 3,750 Cr Raise in Mumbai

By ThePip DeskSembcorp Green Infra IPO: Rs 3,750 Cr Raise in Mumbai

Sembcorp Green Infra, backed by Temasek, files for a Rs 3,750 crore IPO in Mumbai, primarily to repay debt. Details on their second listing attempt.

Sembcorp Green Infra, the renewable energy business of Singapore-based Sembcorp Industries, has filed draft papers for an initial public offering (IPO) in Mumbai. The company aims to raise up to Rs 3,750 crore through this offering.

Key IPO Details

  • Target fundraise: Rs 3,750 crore
  • Debt repayment allocation: Approximately Rs 3,000 crore
  • Issue structure: Entirely fresh shares, with the parent company not selling existing stake.

History of Indian Listings

This marks Sembcorp’s second attempt to list its Indian energy business. Previously, the company, then known as Sembcorp Energy India, filed draft IPO documents in 2018. Those papers were subsequently withdrawn in 2019 after a decision to inject fresh equity into the business.

Company Backing and Strategy

Sembcorp Green Infra is fully owned by Sembcorp Industries. Singapore’s state investor, Temasek, supports the parent entity. The Indian subsidiary has been actively expanding its renewable energy portfolio.

Lead Managers Appointed

  • Axis Capital
  • Citigroup
  • CLSA
  • HSBC
  • ICICI Securities
  • IIFL Capital Services
  • Kotak Mahindra Capital

This expansion aligns with India’s accelerated investment in clean power and its goal to increase the share of non-fossil fuel sources in its electricity mix.

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