Gujarat-based KP Group, the parent of KPI Green Energy, plans to launch an IPO for its subsidiary, Sun Drops Energia, within the next 10-12 months. The offering is expected to raise ₹4,000 crore.
The IPO would make Sun Drops Energia the group’s fourth publicly listed company and mark its largest equity-market fundraising to date. It is a key part of the group’s ‘KP 3.0’ roadmap.
The funds will support the group’s shift beyond renewable power generation into integrated energy solutions, including battery energy storage systems (BESS). Sun Drops Energia will house all BESS projects, battery manufacturing operations and smaller renewable projects.
The subsidiary will serve as the group’s primary growth vehicle in energy storage, which is seen as essential to providing round-the-clock renewable power.