Sembcorp Green Infra, the Indian renewable energy arm of Temasek-backed Sembcorp Industries, has filed draft papers for an initial public offering to raise up to Rs 3,750 crore.
The proposed IPO will comprise entirely fresh shares, with parent Sembcorp Industries not selling any stake through the offering. The company plans to use about Rs 3,000 crore of the proceeds to partially repay its outstanding debt of Rs 12,523 crore.
Sembcorp Returns To Indian IPO Market
The filing marks Sembcorp's second attempt to list its Indian energy business. The company, then known as Sembcorp Energy India, had filed draft papers in 2018 before withdrawing its IPO plans the following year as it infused additional equity into the business.
The latest filing comes as Sembcorp expands its renewable energy portfolio across India. Sembcorp Green Infra develops, owns and operates wind and solar power projects.
As of March-end 2026, the company had 3.60 GW of operational wind and solar capacity, with another 4.04 GW/GWh of capacity under development.
Profit Rises 22% In FY26
Sembcorp Green Infra reported a 22 per cent increase in net profit to Rs 346 crore for the year ended March 2026. Revenue increased 14.4 per cent to Rs 2,652 crore during the period.
If completed, the listing would place the company alongside listed renewable energy developers including NTPC Green Energy, Adani Green Energy and ACME Solar Holdings.
The IPO also comes amid India's continuing expansion of clean-energy capacity. The country crossed 300 GW of clean electricity generation capacity by the end of July, representing 60 per cent of its 500 GW target for 2030.
Axis Capital, Citigroup, CLSA, HSBC, ICICI Securities, IIFL Capital Services and Kotak Mahindra Capital are managing the proposed issue.
(Reuters inputs)