Sembcorp Green Infra Files for Indian IPO

Sembcorp Green Infra, the Indian renewable energy subsidiary of Sembcorp Industries, has filed draft prospectus papers for an initial public offering in Mumbai. The filing was submitted to the Securities and Exchange Board of India, the National Stock Exchange of India, and the BSE, consisting entirely of new shares.

Reports on the target funding vary, with some sources stating the IPO aims to raise up to 37.5 billion rupees ($393.04 million), while others suggest the amount could reach 500 million US dollars. The company intends to use approximately 30 billion rupees of the proceeds to repay existing debt.

This represents the second attempt by the company to go public following the withdrawal of a similar filing in 2018. Sembcorp Industries noted that the listing remains subject to internal evaluations, market conditions, and regulatory approvals, stating that no definitive decision has been made on whether the listing will be completed.