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SembCorp Energy IPO is a new IPO filed with SEBI on February 22, 2018. This is another largest upcoming IPO from the energy sector. In this article, we will discuss about SembCorp Energy India Limited IPO review that includes allotment status, IPO subscription, IPO issue details, company background, company financials, release date, price band, grey market pricing and so on.

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SembCorp Energy Ratings & Review

SEMBCORP ENERGY IPO –  Ratings & Review
Criteria Ratings
Industry Sentiments 7.5/10
Industry Ranking 7.3/10
Company Background 7.1/10
Company Reputation 7.2/10
Competitive Edge 7.9/10
Financial Statements 7.4/10
Popularity Index 7.2/10
Promoters Reputation 7.2/10
Retail Appetite 7.2/10
Top Brokers Review 7.2/10
Overall Ratings 7.3/10
Star Ratings ★★★☆☆

Summary of SembCorp Energy IPO

SembCorp Energy IPO is one of the latest IPO from Sembcorp Energy India Limited (earlier known as Thermal Powertech Corporation India Limited). Sembcorp Energy IPOSembcorp Energy India Ltd is based out of Hyderabad and it is a thermal and renewable power company in India, which is promoted by Sembcorp Industries (a Singapore-based utility group). Sembcorp Energy has filed draft red-herring prospectus (DRHP) for its initial public offering (IPO).
The fresh issued shares will work up to Rs 4,095 crore and the offer for sale of up to 146,774,194 equity shares by the existing shareholders. The complete equity share is divided into two – sale of 128,941,129 shares by Sembcorp Utilities PTE. LTD and up to 17,833,065 equity scrips Gayatri Energy Ventures private Limited.

From the total receipts of new shares sale, Rs 3,159 crore is decided for indebtedness repayment and the remaining for the use of general corporate purpose.

The company has hired the following global coordinators book running lead managers: Axis Capital Limited , Credit Suisse Securities (India) Private Limited, CLSA India Private Limited and SBI Capital Markets Limited.  IndusInd Bank Limited is hired as only thing book running lead manager (as merchant banker to the public issues). The Karvy Computershare Private Limited is the registrar to the offer for this IPO.

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    SembCorp Energy IPO Date – Start & End Date

    The opening date and closing date of this IPO is not yet finalized and these dates will be disclosed here one week before the actual release.


    Opens On Closes On

    SembCorp Energy IPO Subscription

    Day 1 X
    Day 2 X
    Day 3 X
    Day 4 X
    Day 5 X

    The IPO will be up in the stock exchange for subscription very soon. We will update the data of Subscription once it is declared.

    SembCorp Energy IPO Allotment Status

    The Allotment status will be out within 2-3 weeks of IPO issue. Please check the IPO allotment status post issue of IPO.

    Amount Payable

    Application Price Allotment Price
    Rs. Rs.

    SembCorp Energy India Limited IPO Price Band

    The price band is yet to be disclosed, this will be revealed before 1 week of the issue.

    SembCorp Energy IPO Issue Size

    The issue size of the IPO is up to Rs 4,095 crore and offer for sale of up to 146,774,194 equity shares by the promoters.

    SembCorp Energy IPO Equity Shares Offerings

    Not yet disclosed. This will be released post approval from SEBI.

    SembCorp Energy India Limited – Company Overview

    This company was established as “Thermal Powertech Corporation India Limited” in the year 2008, as a public limited company at Hyderabad, Andhra Pradesh. Now the company name has changed to “Sembcorp Energy India Limited”, in February 2018.

    Sembcorp Energy is associated with development and operation of thermal and renewable power generation in India. By 31st December 2017, this company has done a total power generation wait capacity of nearly 4.07 gigawatt. This includes an aggregate operating generation capacity of 3.57 gigawatt and generating capacity under construction by around 0.50 gigawatt.
    In fiscal 2017, this company generated revenue of Rs 3,418.49 crore, up by 41% as compared to previous year. According to the DRHP, the company has also faced loss of Rs 43.54 crore in the financial year 2016-17.

    Registered Office:
    6-3-1090, A-5, TSR Towers, Rajbhavan Road,
    Somajiguda, Hyderabad 500 082, Telangana, India
    Tel: +91 40 4904 8300 Fax: +91 40 2337 0360
    Corporate Office:
    5th Floor, Tower C, Building No. 8, DLF Cybercity, Gurugram 122 002, Haryana, India
    Tel: +91 124 389 6700 Fax: +91 124 389 6710
    E-mail: cs.india@sembcorp.com, Website: www.sembcorpenergyindia.com,
    Contact Person: Narendra Ande, Company Secretary and Compliance Officer
    Tel: +91 40 3304 8364 Fax: +91 40 4904 8308

    SembCorp Energy India Limited – Company Financials

    Check out the details below for their financial stability:

    Assets of the Company

    Assets (in INR & Millions)
      Sep’17 Mar’17 Mar’16 Mar’15
    Non-Current Asset 84,450.98 86,024.18 90,492.43 91,297.09
    Current Asset 22,421.22 23,430.34 17,979.89 4,273.04
    Total Asset 1,06,872.20 1,09,454.52 1,08,472.32 95,570.13

    Revenue & PAT of the Company

    Revenue & Profits (in millions)
      Sep’17 Mar’17 Mar’16 Mar’15
    Total Revenue 20,472.11 34,184.90 24,119.59 136.34
    Profit after Tax (PAT) 1,337.22 -435.4 -1,197.37 -23.07

    SembCorp Energy IPO – Company Promoters

    Promoted By

    SembCorp Energy IPO Offer Details

     Check the details below for detailed:

    Offer Up to [●] Equity Shares aggregating up to ₹ [●] million
    The Offer consists of:
    Fresh Issue Up to [●] Equity Shares aggregating up to ₹ 40,950 million
    Offer for Sale Up  to  146,774,194  Equity  Shares  aggregating  up  to  ₹  [●] million
    Of which:
    Employee Reservation Portion Up to [●] Equity Shares
    Accordingly, The Net Offer Up to [●] Equity Shares
    Of which:
    A.  QIB Category Not more than [●] Equity Shares
      Of which:
    Anchor Investor Portion [●] Equity Shares
    Balance  available  for  allocation  to  QIBs  other  than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) [●] Equity Shares
      Of which:
    Mutual Fund Portion [●] Equity Shares
    Balance for all QIBs including Mutual Funds [●] Equity Shares
    B. Non-Institutional Portion Not less than [●] Equity Shares
    C. Retail Portion Not less than [●] Equity Shares

    NOTE: Equity Share of QIB, Non-Institutional Portion & Retail Portion has not been specified yet.

    SembCorp Energy IPO – Basis of Offer Price

    The offer price still has to be determined by the company and the promoter, in consultation with the GCBRLMs and BRLM, on the basis of an assessment of market demand for the Equity Shares through the Book Building Process and on the basis of the following qualitative and quantitative factors.

    Qualitative Factors:

    Some of the qualitative factors and our strengths which form the basis for the Offer Price are:

    • Well-balanced and diversified portfolio of high-quality renewable and thermal power assets with stability, growth and potential profitability upside.
    • Promoted by a reputed sponsor with a proven track record, robust corporate governance and commitment to
    • Well-positioned to capitalize on an attractive market with increasing tariffs and favorable GoI initiatives.
    • Proven track record of being cost competitive.
    • Sustainable investments with prudent capital structure.
    • Strong management team and stakeholder relationships.

    Quantitative Factors:
    The information presented below relating to our Company is based on the Restated Financial Statements.

    • Basic and Diluted Earnings/Loss per Share (“EPS”)
    • Price Earning Ratio (P/E) in relation to the Offer Price of ₹ [●] per Equity Share of the face value of ₹
      10 each
    • Return on Net Worth (RoNW)
    • Minimum Return on Total Net Worth after the Offer needed to maintain pre-Offer EPS for the financial
      year ended March 31, 2017
    • Net Asset Value (NAV) per Equity Share
    • Comparison with listed industry peers
    • The Offer Price is [●] times of the face value of the Equity Shares.

    SembCorp Energy IPO Lead Managers 

    Global Coordinators Book Running lead managers:

    • Axis Capital Limited
    • Credit Suisse Securities (India) Private Limited
    • CLSA India Private Limited, and
    • SBI Capital Markets Limited.

    Book Running lead manager:

    IndusInd Bank Limited  (as merchant banker to the public issues).

    SembCorp Energy IPO Registrar of the offer

    • Karvy Computershare Private Limited

    SEMBCORP ENERGY IPO Review by Top 10 Stock Brokers

    Here is what stock brokers & their research analyst has to say about the IPO:

    Top Stock Brokers Review Company Repu-tation Compe-titive Edge Finan-cial State-ment Popu-larity Index Promo-ters Repu-tation
    Angel Broking 7.0/10 7.5/10 7.0/10 7.3/10 7.5/10
    Sharekhan 7.1/10 7.6/10 7.8/10 7.5/10 7.7/10
    Kotak Securities 7.3/10 7.5/10 7.9/10 7.5/10 7.6/10
    ICICI Direct 7.3/10 7.3/10 7.2/10 7.4/10 7.4/10
    IIFL 7.5/10 7.5/10 7.2/10 7.0/10 7.5/10
    Edelweiss 7.5/10 7.5/10 7.1/10 7.3/10 7.6/10
    Zerodha 7.4/10 7.4/10 7.0/10 7.1/10 7.5/10
    5Paisa 7.1/10 7.6/10 7.8/10 7.5/10 7.3/10
    Karvy 7.4/10 7.3/10 7.7/10 7.6/10 7.5/10
    Motilal Oswal 7.1/10 7.5/10 7.9/10 7.3/10 7.4/10

    SembCorp Energy IPO Grey Market Premium

    The Grey Market Premium of SEMBCORP ENERGY IPO has not been released yet. It will release 2 weeks before the IPO issue date.

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      SembCorp Energy IPO News

      News 1 – SembCorp Energy India Limited: Draft Offer Documents filed with SEBI (Feb 27, 2018)

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