Sembcorp Green Infra gets SEBI nod for ₹3,750 crore IPO
In short
Sembcorp Green Infra has got SEBI approval for a ₹3,750 crore IPO. The issue will be a fresh issue only, and the company plans to use the money to repay debt.
The IPO move may help the renewable energy firm raise funds as it grows its power portfolio.
What the reporting says
Temasek-backed Sembcorp Green Infra has received SEBI approval for its ₹3,750 crore initial public offering, which will be entirely a fresh issue. The company plans to use the proceeds to repay existing debt as it expands its renewable energy portfolio. The clearance moves the renewable power company closer to a market debut.
Why it matters
Sembcorp Green Infra received SEBI approval for a ₹3,750 crore IPO that will be entirely a fresh issue. The company, backed by Temasek, plans to use the proceeds to repay debt while expanding its renewable energy portfolio. The approval is an important step toward launching the public issue.