Sembcorp Energy India, an independent power producer has got Sebi’s go ahead to float an initial public offer (IPO).
Sembcorp Energy had approached the regulator in February seeking its clearance for the IPO it received a go ahead on 1st August.
Sembcorp Energy’s IPO comprises fresh issue of shares worth up to Rs 4,095 crore and an offer for sale (OFS) of up to 14,67,74,194 equity scrips by the existing shareholders.
This includes sale of 12,89,41,129 shares by Sembcorp Utilities and up to 1,78,33,065 equity scrips by Gayatri Energy Ventures.
Proceeds from the issue will be utilised towards repayment of certain indebtedness, and for other general corporate purposes, the company said.
Sembcorp Energy,which has thermal and renewable power assets in India, is promoted by the Singapore Exchange-listed Sembcorp Industries.
Axis Capital Credit Suisse Securities (India), CLSA India, and SBI Capital Markets are global co-ordinators and book running lead managers to the offer, while IndusInd Bank is the merchant banker to the public issue.
This is unedited, unformatted feed from the PTI.