Indian Renewable-Energy Company SAEL Industries Files Draft IPO for ~US$520 Million

SAEL Industries, an Indian solar and biomass renewable-energy operator, has filed draft papers for an initial public offering valued at up to ₹45.75 billion (≈US$520 million). The proposed issue comprises a fresh share component of up to ₹37.5 billion and an existing-shareholder sell-down of ₹8.25 billion. The filing reflects rising investor appetite for India’s energy-transition plays and the scaling ambitions of domestic green-energy firms.