India Becomes Rare Hub for Green IPOs With $4 Billion of Deals

India is seeing a revival in clean-energy initial public offerings as companies capitalize on Prime Minister Narendra Modi’s push for renewables.

Starting with Vikram Solar Ltd. this week, more than a dozen green-energy companies have lined up to go public, seeking to raise more than $4 billion in total, according to data from primedatabase.com and local media reports. That comes after the sector saw no major offerings this year in a sharp slowdown from the $2.4 billion raised through IPOs in 2024.

The wave of green listings comes on the back of a pickup in India’s broader IPO market after ...