Temasek-backed Sembcorp’s India renewables unit files for $500 million IPO
The filing marks Sembcorp’s second attempt to take its Indian energy business public.
Temasek-backed Sembcorp Industries' Indian renewable energy arm, Sembcorp Green Infra, has filed for an initial public offering (IPO) in Mumbai to raise up to 37.5 billion rupees (S$500 million). This marks the second attempt by the company to go public, following a withdrawn filing in 2018. The IPO consists entirely of new shares, with Sembcorp Industries, the parent company, not selling any shares.
Sembcorp Green Infra, which builds, owns, and operates wind and solar power plants across India, reported a 22% rise in net profit to 3.46 billion rupees for the year ended March 2026, with revenue growing 14.4% to 26.52 billion rupees. The company competes with other renewable energy developers in India's growing clean energy sector, as the Indian government has set a target of 500 gigawatts of clean energy capacity by 2030.
Brief written by urgent.news from Straits Times Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
