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Sembcorp Green Infra Ltd has filed its Draft Red Herring Prospectus with Sebi to raise up to INR 3,750 crore through an initial public offering, with the entire issue comprising a fresh issue of equity shares. The company plans to use the IPO proceeds to repay certain borrowings of the company and its subsidiaries. As of March 31, 2026, Sembcorp Green Infra had 3.60 GW of operational renewable energy capacity and around 4.04 GW/GWh under construction. The renewable energy producer is also expanding into hybrid, storage-backed, round-the-clock and firm and dispatchable renewable energy projects.
Sembcorp Green Infra Ltd, a renewable energy independent power producer, has filed its Draft Red Herring Prospectus with Sebi to raise up to INR 3,750 crore through an initial public offering. The proposed issue will consist entirely of a fresh issue of equity shares and will not include an offer-for-sale component.
The company intends to deploy the proceeds from the issue towards repayment of certain borrowings taken by Sembcorp Green Infra and its subsidiaries. The proposed fundraising is expected to support the company's balance sheet as it continues to expand its renewable energy portfolio.
As of March 31, 2026, Sembcorp Green Infra had 3.60 GW of operational renewable energy capacity. A further 4.04 GW/GWh was under construction, comprising 2.61 GW of renewable energy capacity and 1,433 MWh of battery energy storage system capacity.
The company is also increasing its participation in more complex renewable energy projects. These include hybrid projects, storage-backed renewable assets, round-the-clock power projects and firm and dispatchable renewable energy projects, which are designed to address requirements for more consistent renewable power supply.
Sembcorp Green Infra's financial performance also improved during FY26. Revenue from operations increased to INR 2,652.50 crore from INR 2,318.29 crore in FY25. Profit after tax rose to INR 371.08 crore during the year from INR 298.83 crore in the preceding financial year.
Promoted by Sembcorp Utilities Pte Ltd and Sembcorp Industries Ltd, the company has a portfolio comprising 105 projects spread across 13 states and union territories. Its expansion strategy combines organic growth with selective acquisitions and investments in energy storage and more complex renewable energy projects.
The company is looking to scale its portfolio as demand for renewable power and storage capacity increases. Its focus on hybrid and storage-linked projects also forms part of its broader strategy to expand beyond conventional renewable generation and participate in projects requiring more flexible power delivery.
The proposed IPO comes as the company seeks additional capital market access while strengthening its financial position. The use of the issue proceeds for debt repayment is expected to reduce borrowing obligations and provide greater balance-sheet flexibility as the company undertakes further capacity expansion. Axis Capital, Citigroup, CLSA, HSBC, ICICI Securities, IIFL Capital Services and Kotak Mahindra Capital have been appointed as book-running lead managers for the proposed IPO.
Source PTI
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