Sembcorp Industries' India energy unit withdraws listing prospectus

But it intends to re-file a revised prospectus at an ‘appropriate’ time this year.

Sembcorp Industries’ energy unit in India, Sembcorp Energy India Limited (SEIL), has withdrawn its draft red herring (DRHP) prospectus lodged into the Securities Exchange Board of India, an announcement revealed.

“This withdrawal has been duly completed and SEIL intends to re-file a revised DRHP at an appropriate time this year, taking into consideration market conditions,” the company said.

In the meantime, Sembcorp Industries plans to subscribe to additional shares in SEIL through its wholly-owned subsidiary Sembcorp Utilities and inject new equity to support the growth of its India renewable energy business.

SEIL has a wind and solar power portfolio of more than 1,700MW, including 550MW currently in development. It is currently developing two additional wind projects, SECI 2 and SECI 3, which it also won in the nationwide wind tenders. 

Also read: Sembcorp Industries could bank on Indian business recovery