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Lohum sets up 1,000 MTPA lithium refinery; plans IPO

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Lohum has announced the establishment of a battery-grade lithium refinery with a capacity of 1,000 metric tonnes per annum (MTPA). The company has also begun producing value-added materials such as cathode active materials (CAM), which are essential for lithium-ion battery manufacturing. Lohum’s lithium recovery technology boasts over 90% efficiency, significantly surpassing the industry average of 60-70%. The company aims to achieve 99.99% purity with ongoing research and development.   Additionally, Lohum plans to raise $200 million…

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GK Energy files DRHP for Rs 5 billion IPO to raise funds

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GK Energy Limited has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). The IPO consists of a fresh issue of shares worth up to Rs 5 billion, along with an offer for sale of up to 8.4 million equity shares by existing shareholders. The shares will have a face value of Rs 2, and the offer includes reservations for…

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Continuum Green Energy files DRHP to raise Rs 36.5 billion through IPO

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Continuum Green Energy Limited has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 36.5 billion. The IPO includes a fresh issue of shares worth Rs 12.5 billion and an offer for sale of Rs 24 billion by the promoter, Continuum Green Energy Holdings Limited.  The net proceeds from the fresh issue will primarily be used to repay or…

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Satvik Green Energy files for Rs 11.50 billion IPO to fund solar expansion

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Satvik Green Energy has reportedly filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 11.50 billion through an initial public offering (IPO). The offering includes a fresh issue of shares worth Rs 8.50 billion and an offer for sale of Rs 3 billion by the company’s promoters. Proceeds from the IPO will be utilized to repay debt, invest in the company’s subsidiary, Saatvik Solar Industries,…

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Sugs Lloyd wins Rs 3 billion power infrastructure projects in Bihar

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Sugs Lloyd has emerged as the lowest bidder for two Bihar government projects worth Rs 3 billion. The contracts include the supply, installation, testing, and commissioning (SITC) of a power substation along with high-tension (HT) and low-tension (LT) lines.  CEO Satyakam Basu expressed excitement over this milestone, noting that the company is considering an IPO to expand operations and fulfil working capital needs.

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Apollo Green Energy targets Rs 100 billion project portfolio, IPO on horizon

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Apollo Green Energy Limited (AGEL), part of Apollo International Group, has announced plans to build a Rs 100 billion project portfolio by 2025.  Currently, its order book stands at Rs 35 billion, with active solar projects valued at Rs 25 billion under development across India. AGEL is preparing for a public listing in 2025 to support its expansion in renewable energy. The company reported significant revenue growth from Rs 3.25 billion in FY 2021-22 to…

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ACME Solar launches Rs 30 billion IPO

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ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51.  The offering includes a fresh issue of Rs 23.95 billion and a sale offer of Rs 5.05 billion by ACME Cleantech Solutions. An…

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NTPC Green receives SEBI approval for Rs 100 billion IPO

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NTPC Green Energy, a subsidiary of NTPC Ltd, has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its Rs 100 billion initial public offering (IPO).  As India’s largest public sector renewable energy enterprise (excluding hydro) by capacity and power generation in FY 2024, NTPC Green Energy initially filed its IPO documents with SEBI on September 18, 2024. As of June 30, 2024, NTPC Green Energy managed 37 solar…

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Rajesh Power Services files DRHP for IPO on BSE SME

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Rajesh Power Services Ltd (RPSL) has filed its draft red herring prospectus (DRHP) with BSE SME for an initial public offering (IPO).  The IPO includes a fresh issue of 2.79 million equity shares, each with a face value of Rs 10, and an offer for sale of up to 2 million equity shares, also with a face value of Rs 10, through the book-building route. The selling shareholders include Beena Panchal, Krunal Panchal, Nehal Panchal,…

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Integrum Energy Infrastructure files DRHP for IPO

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Integrum Energy Infrastructure has reportedly filed a draft red herring prospectus (DRHP) for an initial public offering (IPO).  The IPO will include a fresh issue of up to 4.95 million equity shares and an offer for sale of up to 0.54 million equity shares.  The proceeds will be directed toward the development of a new solar plant and meeting the company’s working capital needs.