Tata Power contemplating an IPO of $473 million for renewable energy business

Tata Power is reportedly considering an IPO of $473 million for its renewable energy business. The company has shelved its initial plans to seek a partner to invest in its renewable energy business via an investment trust. It is currently planning to seek approval for the IPO from its board. If it receives approval, the proposed listing on the bourses can take place in 2021.

The company, including subsidiaries and joint entities, has a generating capacity of 12.8 GW, about 30 per cent of which comes from clean energy, according to its website. Its projects include solar power generation, installation, manufacturing and maintenance, as well as wind power generation.

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