Sembcorp Industries mulls ₹3,750 cr IPO for India unit in Dec 2026: Firm profile; top details investors should know

Singapore-based Sembcorp Industries Ltd. is meeting investors for a proposed initial public offering (IPO) of its Indian renewable energy subsidiary, Sembcorp Green Infra Ltd., which could raise up to ₹3,750 crore, Bloomberg reported, citing people familiar with the matter.The company is considering launching the IPO as early as December, although the timing and size of the offering remain subject to change. Sembcorp Green Infra filed its draft IPO papers in August and is awaiting regulatory approval.Backed by Temasek Holdings Pte., the renewable energy company plans to raise funds through a fresh issue of equity shares, with no offer-for-sale (OFS) component. According to its draft red herring prospectus (DRHP), the proceeds Id:11793024495583will be used to repay certain borrowings of the company and its subsidiaries.Sembcorp Green Infra's Renewable Energy PortfolioSembcorp Green Infra is among India's 10 largest renewable energy independent power producers by operational capacity as of March 31, 2026, according to its IPO prospectus.The company operates across 18 states and has more than 75 renewable energy assets.

Its gross renewable energy portfolio stood at 7.6 gigawatts (GW), including operational capacity and projects under development.As of March 31, 2026, the company had 3.60 GW of operational renewable energy capacity, while approximately 4.04 GW/GWh of projects were under construction, according to the information provided in its prospectus.The under-construction portfolio includes 2.61 GW of renewable energy capacity and 1,433 megawatt-hours (MWh) of battery energy storage system (BESS) capacity.The company is also expanding its focus on more complex renewable energy projects, including hybrid and storage-backed facilities, round-the-clock (RTC) power supply projects, and firm and dispatchable renewable energy (FDRE) projects.IPO Proceeds to Support Debt Repayment and ExpansionThe proposed ₹3,750-crore capital raise is expected to strengthen the company's balance sheet as it expands its renewable energy portfolio.According to the DRHP, the proceeds will be directed towards the repayment of specified borrowings. The fundraising comes as the company seeks to increase its renewable energy capacity and invest in projects that offer more flexible and reliable power supply.Its expansion strategy includes organic growth, selective acquisitions and investments in energy storage and complex renewable energy projects.Sembcorp is working with Axis Capital Ltd., Citigroup Inc., CLSA, HSBC Holdings Plc, ICICI Securities Ltd., IIFL Capital Services Ltd. and Kotak Mahindra Capital Co. on the proposed offering, Bloomberg reported.However, the final issue size, launch date and other details have not yet been confirmed.Revenue and Profit Increase in FY26Sembcorp Green Infra reported an improvement in its financial performance in the financial year ended March 2026.Revenue from operations rose to ₹2,652.50 crore in FY26 from ₹2,318.29 crore in FY25, an increase of approximately 14.4%.Profit after tax (PAT) increased to ₹371.08 crore from ₹298.83 crore in the previous financial year, marking a rise of around 24.2%.The proposed IPO would provide the company with an opportunity to strengthen its financial position while pursuing further investments in India's renewable energy sector. The offering remains subject to regulatory approval and final decisions on its timing and structure.