ReNew Power’s IPO, which is part of Goldman Sachs, has got market regulator SEBI approval. After the approval of SEBI, the company will soon introduce its IPO. The company had been engaged in this exercise for quite some time.
The company will issue fresh shares of Rs 2,600 crore in its IPO, while existing shareholders will also present their 9,43,77,107 equity shares for the bid. Existing shareholders include Global Environment Fund and investment partner of Green Rock Energy Goldman Sachs GS Vivarn Holdings.
Renew Energy had filed draft documents with SEBI in May. On July 18, SEBI had provided ‘Observation’ to them. For any company, it is mandatory to get ‘Observation’ of Sebi before presenting an IPO.
According to the draft papers given to SEBI, the company will use this fund for acquisition and strategic enterprises. Apart from this, the debentures of the company and its associates will also be redeemed. Some funds will also be used for general corporate business.
Renew power is a clean energy producer whose current capacity is 5,600 MW. The company is trying to increase it. The company builds, develops, operates and expands solar and wind power projects and their capabilities.
The company’s solar power projects are for industrial and business customers. The company was founded by Sumant Sinha in 2011. Sinha has been a former Chief Operating Officer of Suzlon Energy.
The responsibility of managing this IPO has been given to Kotak Mahindra Capital Company Limited, DSP Merrill Lynch, Goldman Sachs (India) Securities, JM Financial, J P Morgan India, HSBC Securities and Capital Markets (India) Pvt Ltd, IDFC Bank, UBS Securities India and YES Securities.
Upcoming IPO 2018 in India – IPO of ReNew Power is planning to come in Indian stock market in this year of 2018.
ReNew Power IPO Reviews:
– To Be Updated Soon once get the final SEBI confirmation for this IPO
|ReNew Power IPO Details|
|Issue Price Band||–|
|Minimum bid (lot size)||–|
|IPO Size||INR 2600 Cr|
|Listing At||BSE, NSE|
ReNew Power IPO Lead Manager(s):
- JM Financial
- J P Morgan India
- IDFC Bank
- UBS Securities India
- YES Securities
- HSBC Securities and Capital Markets (India) Pvt Ltd
- Kotak Mahindra Capital Company Limited
- DSP Merrill Lynch, Goldman Sachs (India) Securities
ReNew Power IPO Promoters:
- To Be Updates Soon