Sembcorp Industries 'sets stage for spin-off of India energy ops'
IPO could raise as much as US$500m to US$600m, say market watchers
Singapore
SEMBCORP Industries has set out to consolidate its thermal and renewable energy unit in India under a single entity, a move seen as laying the groundwork for the listed group to spin off its businesses there.
The listed group said before Monday's trading hours that three transfers of shareholding interests in these businesses have taken place as part of the reorganisation of its India energy operations.
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