Prozeal Green Energy Limited Announces IPO
Prozeal Green Energy Limited has announced its Draft Red Herring Prospectus (DRHP) for an upcoming IPO. This offering presents an opportunity for investors to participate in a company focused on renewable energy solutions. The IPO comprises a combination of a Fresh Issue and an Offer for Sale (OFS), with a total issue size of 700 crore.
Company Overview
Prozeal Green Energy Ltd. is a leading renewable energy solutions provider specializing in engineering, procurement, and construction (EPC) of solar energy projects, with a focus on commercial and industrial clients. They are known for their ‘Plug and Play’ solar park setups, offering pre-developed infrastructure for quick project deployment.
Key Achievements
As of September 30, 2024, Prozeal Green Energy had successfully executed 182 solar power projects with a total installed capacity of 783.98 MWp across 17 states and Nepal. Notably, from FY23 to FY24, Prozeal Green Energy experienced significant EBITDA growth and demonstrated strong Return on Equity (ROE) and Return on Capital Employed (ROCE).
Financial Overview ( in Crores)
Here s a snapshot of Prozeal Green Energy s financial performance:
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 514.00 | 422.94 | 221.93 | 157.25 |
| Revenue | 468.54 | 948.88 | 341.00 | 287.19 |
| Profit After Tax | 51.60 | 92.24 | 21.52 | 10.07 |
| Net Worth | 243.84 | 192.03 | 72.02 | 20.48 |
| Reserves and Surplus | 234.34 | 191.18 | 71.20 | 19.73 |
| Total Borrowing | 82.60 | 77.34 | 62.92 | 3.43 |
Offer for Sale and IPO Structure
The IPO includes a fresh issue of 350 crore and an Offer for Sale of 350 crore. The allocation of shares is structured as follows:
- Retail Investors: 35%
- Qualified Institutional Buyers (QIB): 50%
- Non-Institutional Investors (NII): 15%
The shares are proposed to be listed on both the BSE and NSE.
Lead Managers and Registrar
The lead managers for the Prozeal Green Energy Limited IPO are Nuvama Wealth Management Limited and SBI Capital Markets Limited. Mufg Intime India Private Limited is the registrar for the IPO.
Conclusion
The Prozeal Green Energy IPO presents an exciting investment opportunity in the renewable energy sector. Investors are encouraged to stay updated on the IPO launch date and consider this offering. Keep an eye out for further announcements regarding the IPO dates and price band.