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

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

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

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

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

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

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

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.

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ACME Solar signs PPA with SECI for 150 MW hybrid solar project

ACME Solar Holdings’ special purpose vehicle, ACME Platinum Urja, has signed a Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a 150 MW hybrid solar project.  This is part of the 350 MW capacity awarded to ACME Solar by SECI. The project will include energy storage solutions (ESS) and will be connected to the inter-state transmission system via Tumkur-II substation in Karnataka. ACME Solar Holdings has also filed a draft red…

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Waaree Energies to launch Rs 36 billion IPO

Waaree Energies has announced its initial public offering (IPO), set to launch on October 21, 2024. The anchor investor bidding will open on October 18, and the offer will close on October 23. The IPO includes 4.8 million equity shares with a total value of Rs 36 billion. The price band is set between Rs 1,427 and Rs 1,503 per share, with a minimum bid of 9 shares.  Waaree Sustainable Finance Private Limited will offer…

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Saatvik Solar plans private equity fundraising and IPO to expand operations

Solar module maker Saatvik Solar has announced plans to raise funds from private equity investors and launch an initial public offering (IPO) to support its expansion efforts. At a press conference, Group Chief Financial Officer Abani Kant Jha stated that the company is targeting a 100% revenue growth in the current fiscal year, aiming to reach Rs 20 billion. Saatvik Solar, with a current solar module manufacturing capacity of 3.8 GW and an additional 2…