Sembcorp Industries Energy Arm Files IPO Papers

Sembcorp Industries Energy Arm Files IPO Papers

Sembcorp Energy India, an independent power producer, today filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO). The company, which has thermal and renewable power assets in India, is promoted by the Singapore Exchange-listed Sembcorp Industries. The IPO comprises fresh issue of shares worth up to Rs 4,095 crore and an offer for sale (OFS) of up to 146,774,194 equity scrips by the existing shareholders, draft papers filed with Securities and Exchange Board of India (Sebi) showed.

This includes sale of 128,941,129 shares by Sembcorp Utilities and up to 17,833,065 equity scrips Gayatri Energy Ventures.

Proceeds from the issue will be utilised towards repayment of certain indebtedness, and for other general corporate purposes, the company said.

Axis Capital Credit Suisse Securities (India), CLSA India, and SBI Capital Markets are global co-ordinators and book running lead managers to the offer, while IndusInd Bank is the merchant banker to the public issue. Read More…

Leave a Reply

Your email address will not be published.