SECI Plans to Launch IPO by 2026

Solar Energy Corporation of India is mulling over to launch IPO within the next two years to fund its capacity addition goal of 10 GW by 2030.

September 23, 2024. By Mrinmoy Dey

State-run renewable energy company Solar Energy Corporation of India (SECI), which attained Navratna status earlier this month, is planning to launch Initial Public Offering (IPO) within the next two years.

Speaking to the media during the company’s foundation day celebration, R.P. Gupta, Chairman and Managing Director, SECI said, “We would like to go public in one or two years.” He, however, added that the size of the IPO is not yet decided.

This is a significant development in the RE sector given that SECI is a Renewable Energy Implementing Agency under the aegis of the Ministry of New and Renewable Energy (MNRE) for tendering RE projects.

SECI has also committed to add 10 GW of renewable energy capacity by 2030 during the recently concluded RE-INVEST 2024 in Gandhinagar, Gujarat. And, thus would require to raise fund for these expansions and the IPO route seems to be a hot favourite at the moment.

This move follows after another state run energy company NTPC decided to go ahead with the IPO option for its wholly-owned subsidiary NTPC Green Energy. The company recently filed draft red herring prospectus for a INR 10,000 crore IPO with SEBI.

Tags:

Investment & Trading

Solar Energy Corporation of India

NTPC Green Energy IPO

NTPC Green Energy