NewsCorporate ActionsContinuum Green Energy to Acquire Remaining 26% Stake from Morgan Stanley-Backed CEILContinuum Green Energy to Acquire Remaining 26% Stake from Morgan Stanley-Backed CEIL
Continuum Green Energy Holdings is acquiring the remaining 26% stake in Continuum Green Energy from Clean Energy Investing (CEIL), achieving full ownership. This strategic move precedes their planned IPO valued at ₹3,650 crore. The company's renewable energy portfolio includes 2,235.40 MW of operational capacity and 1,289.60 MW under construction.
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Continuum Green Energy Holdings is set to take full control of Continuum Green Energy in a strategic move that precedes its planned Initial Public Offering (IPO). The renewable energy company has signed a share purchase agreement to acquire the remaining 26% stake from Clean Energy Investing (CEIL), an investment vehicle supported by Morgan Stanley Infrastructure Partners.
Key Highlights of the Acquisition
- Agreement Date: The share purchase agreement was signed on September 23.
- Stake Acquisition: Continuum Green Energy Holdings will acquire the remaining 26% stake in Continuum Green Energy.
- Full Ownership: The transaction will result in 100% control of Continuum Green Energy under founders Vikash Saraf and Arvind Bansal.
- Previous Transactions: In May, CEPL had increased its stake to 74% through the conversion of CEIL's convertible securities.
Background on CEIL's Investment
CEIL has been a long-standing shareholder in Continuum Green Energy since 2012. Over time, it has gradually reduced its holding, with this final sale marking its complete exit from the company.
Upcoming IPO Details
The acquisition is a strategic move ahead of Continuum Green Energy Holdings' planned IPO. Key details of the proposed public offering include:
| Component | Value |
|---|---|
| Total IPO Value | ₹3,650.00 crore |
| Fresh Equity Component | ₹1,250.00 crore |
| Offer-for-Sale Component | ₹2,400.00 crore |
Continuum's Renewable Energy Portfolio
Continuum Green Energy Holdings has established a significant presence in the renewable energy sector:
| Category | Capacity |
|---|---|
| Total Capacity | 3.50 GW |
| Operational Capacity | 2,235.40 MW |
| Under Construction | 1,289.60 MW |
This acquisition marks a significant milestone for Continuum Green Energy Holdings, consolidating its ownership structure as it prepares for its market debut. The move is likely to streamline decision-making processes and potentially enhance the company's appeal to investors in the upcoming IPO.
As the renewable energy sector continues to grow in importance, Continuum's expanded portfolio and full control of its operations position it as a notable player in India's green energy landscape. The success of its IPO and future growth will be closely watched by investors and industry observers alike.
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