Singapore's Sembcorp plans to raise $500-600m from India unit IPO

Singapore's Sembcorp plans to raise $500-600m from India unit IPO

The 2,640-megawatt Sembcorp Gayatri Power Complex in Nellore, Andhra Pradesh. Source: Sembcorp Industries Ltd

Singapore-based utility group Sembcorp Industries is gearing up to file for an initial public offering (IPO) of its Indian arm which could see the company raise around $500-600 million (about Rs3,200-3,800 crore), two people aware of the development said.

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