Sembcorp Energy India has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of shares worth up to Rs 4,095 crore and an offer for sale (OFS) of up to 14,67,74,194 equity scrips by the existing shareholders.
The company, which filed the draft red herring prospectus with the SEBI in February, got the regulator’s approval on August 1. The funds will be utilized towards repayment of certain indebtedness, and for other general corporate purposes. Axis Capital Credit Suisse Securities (India), CLSA India, and SBI Capital Markets are book running lead managers to the issue.
Sembcorp Energy identifies, develop and operate power generation assets across the thermal and renewable power sectors in India.
