Renewable energy solutions provider Deon Energy has filed draft papers with markets regulator Sebi seeking its approval to garner Rs 150 crore through an initial public offering (IPO).
The Ahmedabad-based company's maiden public offering is entirely a fresh issue of shares with no offer for sale (OFS) component, draft red herring prospectus (DRHP) filed on Thursday showed.
Funds raised through the IPO to the tune of Rs 100 crore will be utilised for funding the company's long-term working capital requirements, and a portion will be earmarked for general corporate purposes.
Incorporated in 2020, the company is focused on delivering end-to-end renewable energy solutions, including engineering, procurement and construction (EPC) of solar energy projects on a turnkey basis, with an emphasis on serving clients in the commercial and industrial sectors. The company executes independent solar EPC projects for its clients.
Click Here To Read All IPO News
As of March 2025, the company executed 78 solar power projects with a total installed capacity of 140.29 MWDC (Megawatt Direct Current) and 118.80 MWAC (Megawatt Alternating Current).
The company's revenue from operations was Rs 299 crore and a net profit of Rs 26 crore during FY25.
Smart Horizon Capital Advisors is the sole book-running lead manager of the public offering.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
