Orient Green Power files for IPO

Shriram EPC holds 35.8% stake in the company

Shriram EPC-promoted Orient Green Power, has filed a draft red herring prospectus (DRHP) for an initial public offer (IPO). Shriram EPC holds 35.8% stake in the company. Two private equity firms Olympus Capital and Bessemer Venture Partners hold the remaining stake.

Orient Green is a renewable energy producer in India focused on the development, ownership, and operation of wind, biomass and small hydel projects. The company currently has an aggregate installed capacity of 196 megawatts (MW), comprising 156 MW from wind power and 40 MW biomass projects. The company requires fund to expand power generation capacity to to 1000 MW in two years.

The IPO will consists of a fresh issue of shares and the holding of the current shareholders will be reduced to that extent.