Summary of this article
Sembcorp Green Infra files DRHP for Rs 3,750-crore IPO
IPO will comprise only fresh shares, with no OFS component
Proceeds will repay borrowings as the company expands renewable capacity
Sembcorp Green Infra, a renewable energy independent power producer, filed preliminary papers with markets regulator Securities and Exchange Board of India (Sebi) on August 26, 2026, to raise up to Rs 3,750 crore through an initial public offering (IPO).
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).
The company plans to use the proceeds to repay certain borrowings of Sembcorp Green Infra and its subsidiaries.
The proposed fundraise is expected to strengthen the company’s balance sheet as it expands its renewable energy portfolio, particularly in storage-backed and other complex renewable energy projects.
As of March 31, 2026, Sembcorp Green Infra had 3.60 GW of operational renewable energy capacity and about 4.04 GW/GWh of capacity under construction.
Its under-construction portfolio included 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 hybrid, storage-backed, Round-the-Clock (RTC), and Firm and Dispatchable Renewable Energy (FDRE) projects as India’s power system increasingly requires renewable capacity that can offer more predictable and flexible supply.
Sembcorp Green Infra’s revenue from operations rose to Rs 2,652.50 crore in FY26 from Rs 2,318.29 crore in FY25. Its Profit After Tax (PAT) increased to Rs 371.08 crore from Rs 298.83 crore during the same period.
Sembcorp Green Infra develops, operates and maintains large-scale renewable energy projects in India. As of March 31, 2026, it had 105 projects across 13 states and Union Territories, mainly in Rajasthan, Karnataka and Gujarat.
The company is promoted by Sembcorp Utilities and Sembcorp Industries. It is wholly owned by Singapore-based Sembcorp Industries through Sembcorp Utilities. Sembcorp Industries is backed by Singapore state-owned investment firm Temasek Holdings.
Sembcorp Green Infra plans to grow its portfolio through organic expansion, selective acquisitions, and investments in energy storage and advanced 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.
