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NTPC Green receives SEBI approval for Rs 100 billion IPO

India, News

NTPC Green Energy, a subsidiary of NTPC Ltd, has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its Rs 100 billion initial public offering (IPO).  As India’s largest public sector renewable energy enterprise (excluding hydro) by capacity and power generation in FY 2024, NTPC Green Energy initially filed its IPO documents with SEBI on September 18, 2024. As of June 30, 2024, NTPC Green Energy managed 37 solar…

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Vikram Solar files for Rs 15 billion IPO with SEBI

India, News

Vikram Solar Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue worth up to Rs 15 billion and an offer-for-sale (OFS) of 17.45 million equity shares by its promoters. The face value of each equity share is Rs 10, with a reservation for eligible employees, offering them a discount in the subscription segment. The company may…

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Waaree Energies gets SEBI green signal for IPO

India, News

Waaree Energies Limited, an Indian solar PV module manufacturer, has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) to raise Rs 30 billion. The IPO will include a fresh issue of shares with a face value of Rs 10 per equity share, and an offer for sale (OFS) of up to 3.2 million equity shares, as outlined in its draft red herring prospectus filed in…

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Hindenburg alleges SEBI head’s past investments linked to Adani Group

India, News

Hindenburg Research has accused SEBI head Madhabi Puri Buch of previously investing in offshore funds linked to the Adani Group. Buch has dismissed the allegations as baseless, affirming that all required disclosures were properly made. Hindenburg claims that Buch and her husband held stakes in a Bermuda-based fund in 2015, which reportedly had connections to Adani Group associates. The Adani Group rejected these claims, calling them an attempt to tarnish the company’s reputation. The allegations…

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Solarworld Energy raises Rs 1.1 billion in pre-IPO placement round

India, News

Solarworld Energy Solutions Limited has raised Rs 1.1 billion through a pre-IPO placement, reducing the fresh issue component of its IPO from Rs 5.5 billion to Rs 4.4 billion.  Initially, the company planned to raise Rs 6 billion, as per the draft red herring prospectus (DRHP) filed with SEBI in September. The IPO includes Rs 500 million as an offer-for-sale (OFS) by the promoter, Pioneer Facor IT Infradevelopers. On November 21, the company allotted 3.12…

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Satvik Green Energy files for Rs 11.50 billion IPO to fund solar expansion

India, News

Satvik Green Energy has reportedly filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 11.50 billion through an initial public offering (IPO). The offering includes a fresh issue of shares worth Rs 8.50 billion and an offer for sale of Rs 3 billion by the company’s promoters. Proceeds from the IPO will be utilized to repay debt, invest in the company’s subsidiary, Saatvik Solar Industries,…

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RBI to issue Rs 200 billion in sovereign green bonds in FY 2024-25

India, News

The Reserve Bank of India (RBI) has announced the issuance of Rs 200 billion in sovereign green bonds across four equal tranches during the second half of fiscal year 2024-25. These bonds will fund projects in renewable energy, clean transportation, sustainable water management, and other climate-focused sectors. The first tranche of Rs 50 billion with a 10-year tenor will open for subscription from November 25 to 29, 2024. The second tranche, with a 30-year tenor,…

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IndiGrid reports Rs 651 billion bid pipeline, expands BESS portfolio with new projects

India, News

India Grid Trust (IndiGrid) has estimated a bid pipeline worth over Rs 651 billion in the power transmission sector, as disclosed in its Q2 FY25 investor presentation. The pipeline includes interstate transmission system (ISTS) projects with issued requests for proposal (RfP). Additionally, IndiGrid sees an estimated Rs 35 billion opportunity in the battery energy storage system (BESS) market, primarily from projects in Gujarat and Uttar Pradesh. In Q2FY25, IndiGrid announced a partnership with British International…

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ACME Solar signs PPA with SECI for 150 MW hybrid solar project

India, News

ACME Solar Holdings’ special purpose vehicle, ACME Platinum Urja, has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 150 MW hybrid solar project.  This is part of the 350 MW capacity awarded to ACME Solar by SECI. The project will include energy storage solutions (ESS) and will be connected to the inter-state transmission system via Tumkur-II substation in Karnataka. ACME Solar Holdings has also filed a draft red…

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Juniper, ACME, Sembcorp win SECI’s 600 MW Wind-Solar Auction

India, News

Juniper Green Energy, ACME Solar Holdings, and Sembcorp Green Infra have won Solar Energy Corporation of India’s (SECI) auction to develop 600 MW of interstate transmission system (ISTS)-connected wind-solar hybrid projects (Tranche IX). ACME secured 300 MW at a tariff of Rs 3.25 per kWh, while Juniper and Sembcorp were awarded 150 MW each, with Sembcorp’s tariff at Rs 3.26 per kWh. The tender, originally floated for 400 MW, was expanded to 600 MW. According…