ReNew Power has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO).
The IPO comprises of fresh issue of shares up to Rs 2,600 crore and an offer for sale of 9.4 crore shares by selling shareholders including GEF, Green Rock and GSW. Kotak Mahindra, Bank of America Merrill Lynch, Goldman Sachs, JM Financial and JP Morgan are the global coordinators, while HSBC, IDFC Bank, UBS and Yes Securities are book running lead managers to the issue.
ReNew Power is an Independent Power Producer (IPP) of clean energy with more than 5600 MW of commissioned and under-construction clean energy assets. Of this more than 3.6GW assets are already commissioned.