Continuum Green Energy's Ambitious IPO Leap

Continuum Green Energy Ltd, a renewable energy firm, is set to float a Rs 3,650 crore IPO, with approvals from Sebi. The IPO will comprise fresh equity and an offer-for-sale by its promoter. The funds will aid debt repayment and corporate purposes. The firm backs renewable projects for green energy supply.

Continuum Green Energy Ltd is gearing up to launch a significant Rs 3,650 crore initial public offering (IPO), having secured approval from the Securities and Exchange Board of India (Sebi). The move is expected to boost the company's financial capabilities as it continues its expansion in the renewable energy sector.

The IPO will comprise a fresh issue of equity shares amounting to Rs 1,250 crore and an offer-for-sale worth Rs 2,400 crore by the company's promoter, Continuum Green Energy Holdings Ltd, as detailed in the draft red herring prospectus. The funds from the fresh issue are earmarked for repaying loans and general corporate purposes.

Continuum Green Energy, established in 2007, operates extensive wind and wind-solar hybrid projects across India. With backing from JC Infinity and Generation Investment Management, it currently boasts a substantial capacity and maintains PPAs with over 170 industrial consumers, contributing to a significant revenue increase.

(With inputs from agencies.)