Sembcorp Green Infra IPO: India Renewable Energy Unit May Raise Up To $500 Million, Prepares To File Draft Papers
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Sembcorp Green Infra, the Indian renewable energy arm of Singapore's Sembcorp Industries, is preparing to file draft papers for an IPO that could raise up to $500 million, marking its second attempt at a public listing.
Singapore-based Sembcorp Industries is preparing to file draft papers for an initial public offering of its Indian renewable energy arm, Sembcorp Green Infra, which could raise as much as $500 million, according to people familiar with the matter, as reported by Bloomberg.
The Temasek Holdings-backed company could submit the draft IPO documents as early as this month, the people said, requesting anonymity as the discussions are private. Sembcorp is working with Axis Capital, HSBC, Citigroup, Kotak Mahindra Capital, ICICI Securities and IIFL Capital Services on the proposed offering.
Discussions are still underway and the size and structure of the issue could change, the people said. Representatives of Sembcorp and the banks involved did not immediately respond to requests for comment.
Sembcorp Green Infra's Second IPO Attempt
The proposed listing would be Sembcorp Green Infra's second attempt to tap India's public markets. The company had filed draft IPO papers with the market regulator in 2018 but withdrew them a few months later after its parent decided to provide additional equity capital to the Indian business.
The latest IPO plans come as renewable energy companies increasingly look to India's equity markets to fund expansion. Avaada Electro, Continuum Green Energy and SAEL Industries have received regulatory approval for their respective IPOs, while Greenko Energies, Inox Clean Energy and Goldi Solar are among companies preparing to file their draft papers, according to people familiar with the matter.
Recent renewable energy listings have also performed well in the secondary market. Clean Max Enviro Energy Solutions was trading around 18% above its issue price, while Powerica was roughly 40% higher.
Sembcorp Green Infra Renewable Energy Portfolio
Sembcorp Green Infra is among India's 10 largest renewable independent power producers by operational capacity as of March 31, 2026, according to information on the company's website.
The company operates more than 75 renewable energy assets across 18 states and has 7.6 gigawatts of gross renewable energy capacity either operational or under development in India.
A listing would give public-market investors exposure to one of India's larger renewable energy platforms at a time when the country is expanding its clean-energy capacity.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto is a business journalist with 8+ years of experience in financial journalism. She covers equity markets, corporate earnings, IPOs, commodities and the economy.
As a reporter with leading business publications, she has tracked financial markets and covered sectors including banking and financial services, retail, consumer goods, advertising and e-commerce.
Outside work, she enjoys travelling, discovering local cultures and spending time in nature.
