Sembcorp weighs India renewables IPO that could raise $500 million
What's new: The company said no final decision has been made, despite a report that filing papers could come as early as August.
Sembcorp Industries said Monday that any potential IPO of one of its business units remains at a preliminary stage, pushing back after a report that its Indian renewable energy arm could raise as much as $500 million. The Singapore-listed company said in a filing that it regularly reviews strategic options, including a possible listing of certain units, but that no definitive decision has been made on any transaction. Bloomberg had reported that Sembcorp Green Infra could submit draft documents as early as August. If the deal moves ahead, it would mark a second listing attempt for the India business after it withdrew draft IPO papers in 2018. Sembcorp Green Infra says it has more than 75 renewable assets across 18 Indian states and 7.6 gigawatts of capacity installed and under development.