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ReNew Power files DRHP with SEBI for IPO

09 May 2018 Evaluate

ReNew Power has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). 

The IPO comprises of fresh issue of shares up to Rs 2,600 crore and an offer for sale of 9.4 crore shares by selling shareholders including GEF, Green Rock and GSW. Kotak Mahindra, Bank of America Merrill Lynch, Goldman Sachs, JM Financial and JP Morgan are the global coordinators, while HSBC, IDFC Bank, UBS and Yes Securities are book running lead managers to the issue.

ReNew Power is an Independent Power Producer (IPP) of clean energy with more than 5600 MW of commissioned and under-construction clean energy assets. Of this more than 3.6GW assets are already commissioned.


Peers
Company Name CMP
NTPC 402.20
Tata Power 436.00
Adani Power 225.15
Power Grid Corp 313.90
Torrent Power 1724.80
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