The Tokyo Electric and Chubu Electric-backed renewable energy provider is targeting an initial $386m, though share sales could take the offering to $1bn.
ReNew Power, the India-based renewable power producer backed by energy utilities Tokyo Electric Power and Chubu Electric Power, filed yesterday to raise up to Rs 26bn ($386m) in an initial public offering.
The IPO, which will take place on the Securities and Exchange Board of India, will also incorporate share sales by existing investors that could push the total size of the offering to more than $1bn, a source told Reuters.
ReNew develops, builds and operates solar power plants and…
