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Sembcorp Green Infra Limited

DRHP · filed 01 Sept 2026

Draft filed

This is a draft. SEBI has not cleared it, there is no final price yet, and it may never become an IPO.

Sembcorp Green Infra Limited is a company engaged in power generation. The IPO consists of a fresh issue of Rs 37,500 crore with no offer for sale. The company's financial trajectory is supported by long-term power purchase agreements, with the weighted average remaining term for operational projects being 16.07 years as at March 31, 2026. A key risk is that a significant portion of revenue is derived from a small number of key offtakers, with the top 10 contributing 75.10% of gross revenue in Fiscal 2026.

Partial analysis — some sections could not be read from the document (found: capitalisation, litigation, objects, price_basis, promoters, related_party, risks).

What stands out

Risk factor. A significant portion of revenue is derived from a small number of key offtakers, with the top 10 offtakers contributing 75.10%, 76.57% and 82.61% of gross revenue from power generation (billed) for Fiscals 2026, 2025 and 2024, respectively.

Primarily fresh capital. 100% of the offer is fresh issue, so most proceeds fund the company.

How the offer is structured

Fresh issue

₹37.50k Cr

New capital into the company

OFS share

0%

  • Repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed by our Company and certain of our Subsidiaries₹30.00k Cr
  • General corporate purposes

Promoters, litigation & related parties

Promoter (pre)

100.0%

Except as stated in this section, there are no outstanding (i) criminal proceedings either by or against (including matters which are at first information report (“FIR“) stage even if no cognizance has been taken by any court) involving the Company, Promoters, Directors, Subsidiaries (together, the “Relevant Parties“), Key Managerial Personnel and Senior Management; (ii) actions (including all disciplinary actions, penalties and show cause notices) taken by any statutory or regulatory authorities against the Relevant Parties, Key Managerial Personnel and Senior Management; (iii) disciplinary actions including any penalty imposed by SEBI or stock exchanges against the Promoters in the last five financial years including outstanding actions; (iv) claims related to direct and indirect tax matters involving the Relevant Parties, given in a consolidated manner with the number of cases and total amount, involving the Relevant Parties (with separate disclosures regarding such claims which exceed the materiality threshold as provided below); and (v) other pending litigations or arbitration proceedings involving Relevant Parties based on the Materiality Policy adopted by the Company.

Risks the company discloses

  • A significant portion of revenue is derived from a small number of key offtakers, with the top 10 offtakers contributing 75.10%, 76.57% and 82.61% of gross revenue from power generation (billed) for Fiscals 2026, 2025 and 2024, respectively.(Customer Concentration)

  • The weighted average remaining PPA term for Operational Projects is 16.07 years and for Operational Projects + Under Construction Contracted Projects is 19.03 years as at March 31, 2026.(Contractual Obligations)

  • The weighted average remaining Lock-in Period for Operational Projects is 15.34 years and for Operational Projects + Under Construction Contracted Projects is 18.55 years as at March 31, 2026.(Contractual Obligations)

  • The Bid Success Ratio for All Projects was 49.33% in Fiscal 2026, 43.93% in Fiscal 2025 and 100.00% in Fiscal 2024.(Market Competition)

  • The Bid Success Ratio for Complex Projects was 77.15% in Fiscal 2026, 63.64% in Fiscal 2025 and 100.00% in Fiscal 2024.(Market Competition)

  • The weighted average PPA term for Operational Projects is 23.02 years and for Operational Projects + Under Construction Contracted Projects is 23.68 years as at March 31, 2026.(Contractual Obligations)

  • The weighted average Lock-in Period for Operational Projects is 22.32 years and for Operational Projects + Under Construction Contracted Projects is 23.21 years as at March 31, 2026.(Contractual Obligations)

  • The top offtaker, Solar Energy Corporation of India Ltd, contributed 24.43% of gross revenue from power generation (billed) in Fiscal 2026, 21.12% in Fiscal 2025 and 24.97% in Fiscal 2024.(Customer Concentration)

Figures are extracted automatically from the document filed with SEBI and may contain errors — the linked SEBI document is the authoritative record; analysed 02 Sept 2026.

Not investment advice

These lists are rules-based research, not buy recommendations. Rankings are generated from NSE & BSE data by a deterministic formula and do not account for your personal circumstances. For informational purposes only. Consult a SEBI-registered advisor before investing.