Sembcorp Green Energy proposes Rs 3,750 crore IPO to repay debt
Singapore-based Sembcorp Green Energy has moved towards a stock market listing with a proposed initial public offering (IPO) of up to Rs 3,750 crore. The issue will be a 100% book-built offer of equity shares with a face value of Rs 10 each.
The IPO will comprise only a fresh issue, with no Offer for Sale (OFS) component. Proceeds will be used to repay certain borrowings of the company and its subsidiaries, making the issue entirely a primary capital raise.
Portfolio
Sembcorp Green Energy is promoted by Sembcorp Utilities Pte. Ltd. and Sembcorp Industries Ltd. and has a total portfolio of approximately 7.64GW/GWh. This includes 3.60GW of operational capacity and approximately 4.04GW/GWh under construction.
Its operational portfolio comprises 2.09GW of wind, 1.42GW of solar and 88.40MW of hybrid capacity across 105 projects in 13 States and Union Territories.
Of the under-construction portfolio, 3.58GW comprises complex projects, including hybrid, storage-linked, round-the-clock and Firm and Dispatchable Renewable Energy configurations. The company also has 1,433MWh of battery energy storage capacity under construction.
Financial performance
The company’s revenue increased from Rs 2,249 crore in FY24 to Rs 2,652 crore in FY26. EBITDA rose from Rs 822 crore to Rs 2,098 crore over the same period, while the EBITDA margin remained above 74% across FY24-FY26.
Its net debt-to-equity ratio stood at 1.52x in FY26, compared with 1.68x in FY25.
