KP Group plans ₹4,000 crore Sun Drops Energia IPO as storage becomes core growth bet
Proposed listing expected in 10-12 months would give the renewable-energy group a fourth public-market platform as it targets 10 GW each of owned generation and third-party EPC, alongside 10 GWh of battery capacity by FY32
Gujarat-based KP Group is set to launch a ₹4,000-crore IPO for Sun Drops Energia (Sun Drops) within the next 10-12 months, as the renewable energy storage sector becomes a core growth bet. This would make Sun Drops the fourth listed entity within the group, alongside KPI Green Energy, KP Energy, and KP Green Engineering. The company plans to build 10 GW of owned renewable energy capacity and third-party EPC execution, along with 10 GWh of battery storage capability by FY32.
Sun Drops, a subsidiary of KPI Green Energy, is currently preparing its draft red herring prospectus and will house battery storage projects, manufacturing operations, group-captive renewable projects, and EPC contracts up to 50 MW. Chairman Faruk G Patel emphasized that the future of renewable energy will depend on battery energy storage systems (BESS), stating that customers will increasingly require a mix of solar, wind, and storage.
KP Group's roadmap, known as KP 3.0, aims to achieve these targets through FY32, with KPI Green managing customer-funded EPC projects and owned generation, KP Energy focusing on the wind business, and KP Green Engineering providing manufacturing support.
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