9 months ago
Sembcorp Plans IPO for Indian Unit
A big company from Singapore called Sembcorp is planning to sell shares of its Indian business in the stock market.
This is like when a company wants to raise money by letting people buy small pieces of it.
They are working with banks like Citi and HSBC to make this happen.
The Indian business, called Sembcorp Green Infra, makes money from wind, solar, and storing energy.
They have been doing well and recently bought another company's solar energy part.
The plan is to do this in the next 8-9 months in Mumbai.
This is their second try after they stopped a similar plan a few years ago.
Sembcorp Industries is planning an IPO for its Indian unit, Sembcorp Green Infra, in Mumbai.
The IPO is expected to launch within 8-9 months, advised by Citi, HSBC, and Axis Capital.
Sembcorp Green Infra operates in wind, solar, and energy storage, competing with firms like Adani Green Energy.
The Indian unit reported a profit of $40 million and revenues of $252 million for the year ending March 31, 2024.
This is Sembcorp's second attempt to list its India business, following a withdrawn prospectus in 2019.
- Who
- Sembcorp Industries, a Singaporean energy firm backed by Temasek
- What
- Plans to launch an IPO for its Indian unit, Sembcorp Green Infra
- Where
- Mumbai, India
- When
- Expected within 8-9 months
- Why
- To capitalize on the Indian market's record highs and expand its renewable energy portfolio
Key facts
- Company
- Sembcorp Industries
- Unit
- Sembcorp Green Infra
- IPO Location
- Mumbai
- Advisors
- Citi, HSBC, Axis Capital
- Expected Timeline
- 8-9 months
- Revenue (2024)
- Profit (2024)
- Recent Acquisition
- ReNew Power's solar energy unit
