Continuum Green Energy Limited, an independent power producer, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The company had submitted its preliminary draft documents on December 10, 2024.
Continuum Green Energy aims to raise ₹3,650 crore through its IPO, consisting of a combination of a fresh issue and an offer-for-sale (OFS) component. According to the preliminary draft documents, Continuum Green Energy plans to issue equity shares worth up to ₹1,250 crore as a fresh issue, while promoters will offer shares worth up to ₹2,400 crore through the OFS.
Kotak Mahindra Capital Company Ltd, Ambit Private Ltd, Citigroup Global Markets India Private Ltd, and JM Financial Ltd are the appointed book-running lead managers for the upcoming IPO.
The company intends to use the funds raised from the IPO to partially or fully repay certain outstanding loans of its subsidiaries, including the payment of accrued interest, with ₹1,100 crore earmarked for investment in these subsidiaries. The remainder of the funds will be used for general corporate purposes, as outlined in the draft papers.
Additionally, the company may opt for a pre-IPO placement of specified securities, aiming to raise up to ₹250 crore prior to submitting the Red Herring Prospectus (RHP) to the Registrar of Companies (RoC).
Also Read: Upcoming IPO: Seshaasai Technologies Gets SEBI Nod for Public Offering
Founded in 2007, Continuum Green Energy is a key player in India’s renewable energy sector. As an independent power producer, the company specialises in identifying, developing, constructing, and managing renewable energy projects. It primarily serves commercial and industrial clients, state and central utilities, and power exchanges by providing green energy solutions. The company operates both large-scale wind projects and hybrid systems combining wind and solar power.
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Published on: Apr 22, 2025, 1:17 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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