The proposed IPO will comprise entirely fresh shares, with parent Sembcorp Industries not selling any stake through the offering
It will be Oyster Renewable’s third project in Gujarat
The mechanism attempts to address a growing tension in India's renewable build-out
The project is being developed by KPI Green Energy under the IPP model and is backed by a long-term power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL)
According to the company, the transaction has reduced borrowing costs by about 150 basis points across the issuing SPVs
