Upcoming IPO: Continuum Green Energy gets SEBI nod to raise ₹3,650 crore through the public issue

Continuum Green Energy Ltd, a Mumbai-based independent power producer, has secured approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO) worth ₹3,650 crore. 

IPO Structure and Details

• The IPO comprises a fresh issue of equity shares totalling ₹1,250 crore and an offer-for-sale (OFS) of shares amounting to ₹2,400 crore by the promoter entity, Continuum Green Energy Holdings Ltd.
• The equity shares are proposed to be listed on both the BSE and NSE.
• The book-running lead managers for the IPO are Kotak Mahindra Capital Company Limited, Ambit Private Limited, Citigroup Global Markets India Private Limited and JM Financial Limited.
• Continuum Green Energy may consider raising up to ₹250 crore through a pre-IPO placement before the IPO launch.

Utilisation of Funds

The company will not receive any funds from the OFS; they will go directly to the Promoter Selling Shareholder, Continuum Green Energy Holdings Limited.

The funds raised from the Fresh Issue (after deducting offer-related expenses) will be used by the company for debt repayment and general corporate purposes. 

Financial performance

For the year ended March 31, 2024, the company’s revenue from operations stood at ₹1,294.839 crores, up 33.44% from ₹970.298 crores in the previous year.

Company Profile 

Continuum Green Energy is an independent power producer that identifies, develops, constructs, and operates renewable energy projects in India. The company follows an integrated business model, from project development to power generation and delivery, with a focus on supplying green power to commercial & industrial (“C&I”) consumers. 

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