About Continuum Green Energy IPO
The Continuum Green Energy IPO is a book-built issue, comprising a fresh issue of ₹1,250 Cr and an offer for sale (OFS) of ₹2,400 Cr. The company filed its DRHP document with SEBI on December 9, 2024. The equity shares of the company will be listed on the BSE and NSE platforms.
The price band and official date of subscription and listing will be announced by the company later. This issue will be managed by Kotak Mahindra Capital Company Ltd., Jefferies India Private Ltd., IIFL Capital Services Ltd., J.P. Morgan India Private Ltd., Nomura Financial Advisory and Securities (India) Private Ltd. and Standard Chartered Capital Ltd. as book running lead managers (BRLMs), with KFin Technologies Ltd. as the registrar to the issue.
Company Background
Continuum Green Energy Ltd. was incorporated on May 10, 2007, in Coimbatore, Tamil Nadu and later moved its headquarters to Mumbai. It has transformed from a small private company in wind energy to a significant public limited company in renewable energy. The company focuses on developing and owning large-scale wind and solar projects, providing green power to industrial consumers and managing assets across states like Gujarat, Maharashtra and Madhya Pradesh.
Operations & Product Range
Continuum Green Energy Ltd. is a renewable energy company engaged in the business of 'round-the-clock' wind-solar hybrid power generation. The company generates its revenues through the sale of power to commercial and industrial consumers through the open access route and the sale of power to government-owned entities through the power purchase route. Thus, the company provides a balanced utility service to the private and public sectors.
Facilities & Capacity
Continuum Green Energy Ltd. has maintained an existing portfolio of 4,013.8 MW, which includes operational, under-construction and planned projects located in states like Gujarat and Tamil Nadu. It makes use of advanced technology for its wind turbine generators and solar photovoltaic systems to increase energy production. Its future projects will be mainly wind-solar hybrids along with transmission infrastructure development.
Brands & Market Presence
Continuum Green Energy Ltd., also referred to as Continuum, is a trusted brand in the C&I power industry. It serves a broad spectrum of industrial clients and focuses on the domestic market, which is in line with the Indian renewable energy market. The company is certified with multiple ISOs in environmental management and occupational health and safety, which are essential for building strong partnerships with corporate power suppliers.
Revenue Streams & Business Model
Continuum Green Energy Ltd. mainly earns its revenue through the sales of electricity from its wind and solar plants, which for FY24 is ₹1,961.42 crore. This shows that the company has grown steadily, with significant contributions coming from its C&I segment. It has earned a profit after tax of ₹454.26 Crore, indicating good cash flow generation from its operational assets.
Management & Shareholding
Continuum Green Energy Ltd. is headed by MD Arvind Bansal and Vikash Saraf. Arvind Bansal has contributed greatly towards the company’s growth. Before the IPO, the majority of the company’s shares were owned by the promoters. However, the promoters are expected to hold the majority stake in the company even after the IPO, but the percentages of the promoters' stakes in the company will change because of the new shares and the offer for sale by the existing shareholders.
Board & Key Management
The board of Continuum Green Energy Ltd. comprises professionals in the field of energy and finance, headed by its MD, Arvind Bansal and Non-Executive Director Vikash Saraf. It also comprises independent directors for corporate governance. CS Mahendra Malviya oversees regulatory compliance as the firm prepares for its stock exchange listing.
Continuum Green Energy IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | - |
| Lot Size | - |
| IPO Type | Fresh Capital & OF |
| Total Issue Size | [.] shares (agg. up to ₹ 3,650 Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | [.] shares (agg. up to ₹ 1,250 Cr) |
| Offer for Sale | [.] shares of ₹10 (agg. up to ₹ 2,400 Cr) |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,37,40,95,407 shares |
| Share Holding Post Issue | - |
Continuum Green Energy IPO Financial Information
Latest Revenue
439.42
₹ Crore
Profit After Tax
-111.70
₹ Crore
Net Worth
352.07
₹ Crore
Total Borrowing
14,490.79
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2024 | 15,789.05 | 439.42 | -111.70 | 352.07 | — | 14,490.79 | |||
| 31 Mar 2024 | 13,163.52 | 1,378.85 | -597.98 | 184.32 | — | 12,369.51 | |||
| 31 Mar 2023 | 11,439.48 | 1,112.55 | -367.15 | 330.21 | — | 10,479.12 | |||
| Amount in ₹ Crore | |||||||||
Continuum Green Energy Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | - |
| ROCE | 19.20% |
| Debt/Equity | - |
| RoNW | - |
| PAT Margin | - |
| EBITDA Margin | - |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | (0.95) | - |
| P/E (x) | - | - |
IPO Objectives
Continuum Green Energy Ltd. intends to use the net proceeds from the fresh issue for specific strategic purposes:
- • Repayment of debt (in part or in full)
- • General corporate purposes
Conclusion
Continuum Green Energy Ltd. is a niche player in the renewable energy industry of India, with a specific focus on wind-solar hybrids. It is targeting the C&I market with its strong portfolio of operational assets, which is aligned with India's energy transition strategy. The Continuum Green Energy IPO will be a market debut, but also delivering its assets successfully is crucial for its survival in the competitive green energy market.
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Competitive Strengths
Diversified portfolio of large-scale wind-solar hybrid projects located in states of India that have a high potential for resources.
A strong presence in the high-growth C&I segment of the market, which allows it to secure favorable pricing and relationships directly with corporate customers.
Benefits from a highly certain revenue model through long-term Power Purchase Agreements (PPAs) with governments and corporates.
A team of experts in the industry with a proven track record of developing and commissioning complex renewable energy projects from scratch.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 15/04/2025 | - |
| 2 | Filed with SEBI/Exchange | 16/12/2024 | - |
Continuum Green Energy IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | — | — | |
| Individual investors (Retail) (Max) | — | — | |
| S-HNI (Min) | — | — | |
| S-HNI (Max) | — | — | |
| B-HNI (Min) | — | — |