New Delhi: Renewable Energy (RE) independent power producer Sembcorp Green Infra Ltd has approached the Securities and Exchange Board of India (SEBI) for approval to raise as much as Rs 3,750 crore through an initial public offering, with the money going towards paying down debt.
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There is no Offer For Sale component. The issue consists entirely of fresh equity shares.
The Draft Red Herring Prospectus, filed on Wednesday, states that proceeds will retire certain borrowings held by the company and its subsidiaries. The exercise is intended to shore up the balance sheet as Sembcorp Green Infra expands its renewable portfolio.
As of March 31, 2026, the company had 3.60 GW of renewable capacity in operation, with roughly 4.04 GW/GWh at various stages of construction.
That construction pipeline breaks down into 2.61 GW of renewable generation capacity and 1,433 MWh of battery energy storage system capacity.
Sembcorp Green Infra is putting more weight behind harder-to-execute categories, among them hybrid projects, storage-backed capacity, Round-the-Clock supply and Firm and Dispatchable Renewable Energy.
Growth will come from three directions, the company said: building organically, making selective acquisitions, and investing in storage and complex renewable projects.
Revenue from operations for FY26 came in at Rs 2,652.50 crore, up from Rs 2,318.29 crore the previous year. Profit After Tax moved to Rs 371.08 crore from Rs 298.83 crore in FY25.
The company is promoted by Sembcorp Utilities Pte Ltd and Sembcorp Industries Ltd, and runs 105 projects spread across 13 states and union territories.
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Axis Capital, Citigroup, CLSA, HSBC, ICICI Securities, IIFL Capital Services and Kotak Mahindra Capital are the book-running lead managers to the issue.