Singapore's Sembcorp Industries is planning to list its Indian unit, Mint newspaper reported on Tuesday.
The unit can be either listed here in India or elsewhere, Mint reported citing two people aware of the plan.
The IPO for Sembcorp India, which has thermal and renewable power assets in the country, is being planned at a time when India's green energy tariffs have hit a record low. In such a scenario, obtaining finance at the lowest cost has become a key to success, the report said.
Sembcorp made its first power sector investment in India when it acquired a stake in Gayatri Energy Ventures's Thermal Powertech Corp in 2010.
In February 2015, Sembcorp Industries acquired a 60 percent stake in IDFC Alternatives Ltd-backed renewable energy firm Green Infra Ltd for S$227 million.
Shares in Sembcorp Industries were down 1 percent to S$2.96 on the Singapore Exchange. The stock has risen 4 percent so far this year.
