Continuum Green Energy Limited Filed Draft Papers With SEBI To Raise ₹3,650 Crore

Continuum Green Energy Limited has filed the draft red herring prospectus (DRHP) with the capital market regulator Securities and Exchange Board of India (SEBI) to raise ₹3,650 crore. Continuum Green Energy IPO comprises a fresh issue of ₹1,250 crore and an offer for sale of ₹2,400 crore. The company has appointed Kotak Mahindra Capital Company Limited, Ambit Private Limited, Citigroup Global Markets India Private Limited, and JM Financial Limited as the book runner lead manager while Link Intime India Private Limited as the registrar to the issue.

Purpose of IPO

Fresh Issue

The company proposes to use the net proceeds for the following:

• Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by certain of its Subsidiaries, including payment of accrued interest thereon, through investment in such Subsidiaries.
• General corporate purposes.

Offer for Sale

The proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder, Continuum Green Energy Holdings Limited. The company will not receive any proceeds from the Offer for Sale.

About Continuum Green Energy Limited

Incorporated in 2007, Continuum Green Energy Limited is an independent power producer (IPP). The company has a rich experience of 14 years in identifying, developing, constructing and operating renewable energy projects in India, with a focus on supplying green power to commercial & industrial (C&I) consumers.

The largest operating single project site, the Rajkot project (Gujarat), has an operational capacity of 394.30 MWp. The company acquired its first 16.50 MW wind project in 2010 and has grown its portfolio to a total operational and under-construction capacity of 3.52 GWp.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.