Continuum Green Energy files for Rs 36.5 Bn IPO
POWER & RENEWABLE ENERGY

Continuum Green Energy files for Rs 36.5 Bn IPO

Continuum Green Energy, backed by sustainable investor Just Climate and Morgan Stanley Infrastructure Partners, had filed draft papers with the market regulator to raise Rs 36.5 billion via an initial public offer (IPO), according to exchange filings reviewed by Moneycontrol. Following the recent listings of NTPC Green Energy and Acme Solar Holdings, Continuum was the third player from the renewable energy segment preparing for a market debut.

The IPO was said to consist of a fresh issue size of Rs 12.5 billion and an offer for sale (OFS) component of Rs 24 billion. Promoter entity Continuum Green Energy Holdings Limited was identified as the selling shareholder in the draft documents.

The net proceeds of the issue, besides being used for general corporate purposes, were expected to be directed towards debt repayment of subsidiaries as well as payment of accrued interest through investments in those subsidiaries.

Investment banks acting on the deal were named as Kotak Mahindra Capital, Citi, JM Financial, and Ambit Capital, while law firm Shardul Amarchand Mangaldas was the company’s counsel.

On August 19, Just Climate had announced an investment of $150 million in new equity to support Continuum’s continued deployment of wind-solar-hybrid energy generation and storage projects across India. The clean energy firm’s co-founders had acquired a majority stake from Morgan Stanley earlier in the year.

The report mentioned that in the past, strategic players like Norway’s Statkraft, the US-based Sun Edison (which went bankrupt), ReNew Power, Petronas, Sembcorp, and others had explored a stake buy in Continuum Energy, but those discussions had not materialized into a deal.

Founded in 2009 by Arvind Bansal and Vikash Saraf, Continuum Green Energy was described as an independent power producer with over 14 years of experience in identifying, developing, constructing, and operating renewable energy projects in India. The company focused on supplying green power to commercial and industrial consumers, as well as state and central distribution utilities and power exchanges.

The firm’s largest operating single project site, the Rajkot project in Gujarat, had an operational capacity of 394.3 MW. It was noted that Continuum had acquired its first 16.50 MW wind project in 2010 and had grown its portfolio to a total operational and under-construction capacity of 3.52 GWp, according to the draft papers.

Continuum Green Energy, backed by sustainable investor Just Climate and Morgan Stanley Infrastructure Partners, had filed draft papers with the market regulator to raise Rs 36.5 billion via an initial public offer (IPO), according to exchange filings reviewed by Moneycontrol. Following the recent listings of NTPC Green Energy and Acme Solar Holdings, Continuum was the third player from the renewable energy segment preparing for a market debut.The IPO was said to consist of a fresh issue size of Rs 12.5 billion and an offer for sale (OFS) component of Rs 24 billion. Promoter entity Continuum Green Energy Holdings Limited was identified as the selling shareholder in the draft documents.The net proceeds of the issue, besides being used for general corporate purposes, were expected to be directed towards debt repayment of subsidiaries as well as payment of accrued interest through investments in those subsidiaries.Investment banks acting on the deal were named as Kotak Mahindra Capital, Citi, JM Financial, and Ambit Capital, while law firm Shardul Amarchand Mangaldas was the company’s counsel.On August 19, Just Climate had announced an investment of $150 million in new equity to support Continuum’s continued deployment of wind-solar-hybrid energy generation and storage projects across India. The clean energy firm’s co-founders had acquired a majority stake from Morgan Stanley earlier in the year.The report mentioned that in the past, strategic players like Norway’s Statkraft, the US-based Sun Edison (which went bankrupt), ReNew Power, Petronas, Sembcorp, and others had explored a stake buy in Continuum Energy, but those discussions had not materialized into a deal.Founded in 2009 by Arvind Bansal and Vikash Saraf, Continuum Green Energy was described as an independent power producer with over 14 years of experience in identifying, developing, constructing, and operating renewable energy projects in India. The company focused on supplying green power to commercial and industrial consumers, as well as state and central distribution utilities and power exchanges.The firm’s largest operating single project site, the Rajkot project in Gujarat, had an operational capacity of 394.3 MW. It was noted that Continuum had acquired its first 16.50 MW wind project in 2010 and had grown its portfolio to a total operational and under-construction capacity of 3.52 GWp, according to the draft papers.

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?