Sembcorp to invest Rs 5,169 million in India arm to push renewables growth

Sembcorp will infuse about Rs 5,169 million in its arm Sembcorp Energy India Limited (SEIL) against the issuance of 275 million new equity shares to its wholly owned subsidiary, Sembcorp Utilities. The equity injection will support the growth of its Indian renewable energy business and will be funded through a mix of internal funds and borrowings, taking the Singapore-based promoter’s collective stake in SEIL from 93.73 per cent to 94.05 per cent. The balance of the shares in SEIL is owned by Sembcorp Utilities’ local partner, Gayatri Energy Ventures.

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