Continuum Green Energy, an independent power producer in the renewable energy sector, has received approval from the Securities and Exchange Board of India (SEBI) to raise ₹3,650 crore through its upcoming Initial Public Offering (IPO). The company, founded in 2007, has grown to become a key player in India's renewable energy industry, primarily focused on wind and hybrid (wind-solar) projects. It has established a robust presence, supplying green power to commercial and industrial consumers, as well as state and central distribution utilities, and power exchanges.

IPO Structure and Use of Funds

The proposed IPO includes both a fresh issue of equity shares and an offer-for-sale (OFS) component. The fresh issue is expected to raise up to ₹1,250 crore, while the OFS component will see promoters selling shares worth up to ₹2,400 crore. Continuum Green Energy intends to use the funds raised to repay or prepay certain outstanding borrowings taken by its subsidiaries, with a significant portion—₹1,100 crore—allocated to these repayments, along with the accrued interest.

The remaining proceeds will be used for general corporate purposes, ensuring the continued growth and expansion of the company in the renewable energy space. Additionally, the company may conduct a pre-IPO placement, raising up to ₹250 crore before the Red Herring Prospectus (RHP) is filed with the Registrar of Companies.

The Renewable Energy Focus

Continuum Green Energy is committed to advancing India's renewable energy landscape by managing large-scale wind and hybrid energy projects. The company's dedication to providing green power aligns with India's goals of boosting renewable energy production and reducing reliance on non-renewable sources. With increasing emphasis on sustainability, the company is well-positioned to take advantage of the growing demand for clean energy.

IPO Roadmap

The IPO is set to be managed by top-tier financial institutions, including Kotak Mahindra Capital Company Ltd, Ambit Private Ltd, Citigroup Global Markets India Private Ltd, and JM Financial Ltd. These institutions will assist in driving the IPO to market, ensuring a smooth and successful launch for Continuum Green Energy. Investors interested in participating in this public issue will soon be able to explore further details through the company's RHP, with the IPO expected to hit the market soon.

This IPO not only marks a significant milestone for Continuum Green Energy but also contributes to the larger renewable energy movement in India, helping companies in the sector expand their capacity and meet the nation's growing energy needs sustainably.

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