This Temasek-backed renewable energy company plans $500M IPO in India
What's the story
Temasek Holdings-backed renewable energy firm, Sembcorp Industries is gearing up to file for an initial public offering (IPO) of its Indian subsidiary, Sembcorp Green Infra Ltd. The move could raise as much as $500 million. The company is working with Axis Capital Ltd, HSBC Holdings Plc, Citigroup Inc, Kotak Mahindra Capital, ICICI Securities Ltd and IIFL Capital Services Ltd on the proposed share sale.
IPO history
Previous attempt at going public
This isn't the first time Sembcorp Green Infra is attempting to go public.
The company had filed with India's market regulator in 2018, but withdrew a few months later after its parent company decided to infuse more equity capital into the Indian unit.
Currently, Sembcorp Green Infra is one of India's top 10 renewable independent power producers by operational capacity as of March 31, 2026.
Energy portfolio
Extensive portfolio of renewable energy assets across India
Sembcorp Green Infra boasts over 75 renewable energy assets across 18 states in India.
The company has a total gross renewable energy capacity of 7.6 gigawatts (GW) that is either operational or under development in the country.
This massive portfolio makes it one of the leading players in India's renewable energy sector, further strengthening its position ahead of the upcoming IPO.