Sembcorp Begins Process For IPO In India

Sembcorp Industries said that it had begun the process for an initial public offering of its Indian energy business.

The company is also planning to sell some utilities assets as a part of its strategic review, as reported by Reuters.

The Company said that it expects the divestment to provide proceeds of up to S$500 million (USD379.19 million). This value does not include the proceeds from the proposed IPO of Sembcorp Energy India Ltd, it said in a statement.

The Company has filed a draft preliminary prospectus for the listing on BSE Ltd and the National Stock Exchange of India.