The Securities and Exchange Board of India has granted approval for Sembcorp Green Infra Ltd to launch an initial public offering, according to The Hindu BusinessLine. The Temasek and Sembcorp Industries-backed entity aims to raise approximately ₹3,750 crore through the equity issue. This regulatory clearance follows the submission of the Draft Red Herring Prospectus to the market watchdog in August 2026.
The offering consists entirely of fresh equity shares, with no existing shareholders selling stakes. The company indicated in its prospectus that the primary objective is to bolster its financial position. A specific portion of the raised capital will be directed toward prepaying loans held by HSBC Bank, which is an affiliate of one of the appointed book running lead managers.
Operating in India since 2005, SGIL has established itself as a major independent power producer. As of March 31, 2026, it ranked among the top ten renewable energy firms by operational capacity. The portfolio included 105 projects across 13 states, with 84 already operational. Total renewable capacity stood at roughly 7.64 gigawatt-hours, comprising 3.60 gigawatt-hours in operation and 4.04 gigawatt-hours under development.
Financial performance showed significant growth in fiscal year 2026. Revenue from operations climbed to ₹2,652.50 crore, while EBITDA reached ₹2,098.73 crore. Profit after tax increased to ₹371.08 crore from ₹298.83 crore the prior year. The firm achieved a 77.32 per cent success rate in securing bids for complex projects between fiscal years 2024 and 2026.
The sector is witnessing a shift toward complex renewable tenders, which accounted for 87 per cent of such awards in fiscal year 2026. Industry projections suggest over 80 per cent of new capacity additions will be renewable by fiscal year 2031. A group of seven financial institutions, including Axis Capital, Citigroup, and ICICI Securities, will manage the issue.