Sembcorp Green Infra files DRHP for ₹3,750-crore IPO

Sembcorp Green Infra Ltd, a renewable energy independent power producer, has filed preliminary papers with markets regulator Sebi to raise up to ₹3,750 crore through an initial public offering (IPO), with the proceeds earmarked for debt repayment. 

The proposed IPO will comprise entirely a fresh issue of equity shares and will not have an Offer for Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday. 

The proceeds from the issue will be used to repay certain borrowings of the company and its subsidiaries. 

The proposed fundraise is expected to strengthen Sembcorp Green Infra's balance sheet as it expands its renewable energy portfolio, including investments in storage-backed and other complex renewable energy projects. 

As of March 31, 2026, the company had 3.60 GW of operational renewable energy capacity and about 4.04 GW/GWh of capacity under construction. 

Its under-construction portfolio comprised 2.61 GW of renewable energy capacity and 1,433 MWh of battery energy storage system (BESS) capacity. 

The company is also increasing its focus on complex renewable energy projects, including hybrid, storage-backed, Round-the-Clock (RTC), and Firm and Dispatchable Renewable Energy (FDRE) projects. 

Sembcorp Green Infra's revenue from operations rose to ₹2,652.50 crore in FY26 from ₹2,318.29 crore in FY25. Profit After Tax (PAT) increased to ₹371.08 crore from ₹298.83 crore during the same period. 

Sembcorp Green Infra is a renewable independent power producer focused on developing, operating and maintaining utility-scale renewable energy projects in India. As of March 31, 2026, it had 3.60 GW of operational capacity and an additional 4.04 GW/GWh under construction, comprising 2.61 GW of renewable energy capacity and 1.43 GWh of battery energy storage system (BESS) capacity, primarily across Rajasthan, Karnataka and Gujarat.

Promoted by Sembcorp Utilities Pte Ltd and Sembcorp Industries Ltd, Sembcorp Green Infra has 105 projects across 13 states and Union Territories. 

The company plans to expand its portfolio through a combination of organic growth, selective acquisitions, and investments in energy storage and complex renewable energy projects. 

Axis Capital, Citigroup, CLSA, HSBC, ICICI Securities, IIFL Capital Services, and Kotak Mahindra Capital have been appointed as book-running lead managers to the issue.