ReNew Power IPO: ReNew Power has filed ipo papers as it has submitted draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to apply for an initial public offering (IPO).
ReNew Power IPO to hit the markets
The IPO comprises fresh issue of shares worth Rs 2,600 crore and an offer for sale of 9.4 crore equity stocks by selling existing shareholders, including Global Environment Fund (GEF), Green Rock Energy and GS Wyvern Holdings, an investment arm of Goldman Sachs. This will be one of India’s biggest listings so far this year. ReNew Power is a Goldman Sachs back company which is engaged in the power generation and distribution with over 5,600 MW production capacity. The company works on clean energy based concept. ReNew Power has acquired Ostro Energy Private Ltd .
It was in 2011 that Sumant Sinha set out to give wings to his idea of starting a clean energy company. As the sector was still nascent, one of the big challenges was to raise equity funding to kickstart the company’s first wind energy project. A young startup team, under Sumant’s leadership, began working out of a small office in Mumbai putting together a business plan and investor pitches.
The company’s wind energy project was commissioned in 2012 in the Rajkot district of Gujarat in 2011. The 25.2 MW project was inaugurated by the then Gujarat Chief Minister Mr. Narendra Modi.
Sumant Sinha- CMD
Ankur Ambika Sahu- Non-Executive Director
Wendy A. Franks- Non-Executive Director
Ram Charan- Independent Director
Arun Nath Maira- Independent Director
Arun Duggal- Independent Director
Gondman Sachs, Abu Dhabi Investment Authority, JERA, Asian Development Bank, Global Environment Fund.
Also raised funding from Kotak Bank, IndusInd Bank, Yes Bank, L&T Infra, IREDA, etc.
ReNew Power Limited :
ReNew Power, Commercial Block-1, Zone 6, Golf Course Road, DLF City Phase-V, Gurugram-122009, Haryana
Tel : +91 124 489 6670/80
Also having regional offices at Jharkhand, Karnataka, Madhya Pradesh, Andra Pradesh, Telangana and Maharashtra.