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Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO)
Prozeal Green Energy Limited, a leading renewable energy solutions provider based in Gujarat, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise â¹700 crore through an Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares worth â¹350 crore and an offer-for-sale (OFS) of â¹350 crore by promoters and existing investors.
Company Overview
Prozeal Green Energy is India's fourth-largest solar Engineering, Procurement, and Construction (EPC) firm by revenue in FY24. The company specializes in delivering comprehensive renewable energy solutions, including solar EPC, wind-solar hybrid systems, solar Independent Power Producer (IPP) projects, Battery Energy Storage Systems (BESS), green hydrogen initiatives, and electric vehicle (EV) infrastructure.
Ranked as India’s fourth-largest solar EPC firm by revenue in FY24, the company has earned its spot among the country’s elite clean-tech solution providers. Headquartered in Gujarat, Prozeal delivers end-to-end renewable energy infrastructure from massive solar farms to smart, hybrid systems.
Here’s what they’re into:
- Solar EPC (Engineering, Procurement, Construction):
They build everything — from design to installation — for industrial and utility-scale solar projects. - Wind-Solar Hybrid Systems
Combining wind and solar into single, efficient systems for better output and reliability. - Solar IPP (Independent Power Producer) Projects:
Not just builders, they’re also owners and operators of solar assets — generating and selling clean electricity directly. - Battery Energy Storage Systems (BESS):
Prozeal is developing solutions for storing renewable energy, crucial for grid stability and round-the-clock power. - Green Hydrogen Projects:
Entering the next frontier — hydrogen fuel made using renewable sources. This tech is key to decarbonizing heavy industries and transport. - Electric Vehicle (EV) Infrastructure:
The company is actively exploring opportunities in EV charging stations and mobility infrastructure.
What makes Prozeal stand out is not just its diverse offerings — it’s the speed at which they’ve grown and the scope of projects they've taken on across India. With the IPO, Prozeal is gunning for even bigger plays, larger projects, deeper tech investments, and possibly a stronger international footprint down the road.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO) Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹2 per share |
| Issue Price Band | [.] to [.] per share |
| Lot Size | - |
| Total Issue Size | [.] shares (aggregating up to ₹700.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹350.00 Cr) |
| Offer for Sale | [.] shares of ₹2 (aggregating up to ₹350.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,58,50,322 shares |
Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO) Timeline
| Detail | Description |
|---|---|
| - | - |
Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO) Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| - | - | - | - |
Prozeal Green Energy IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Prozeal Green Energy IPO DRHP Status
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Tue, Apr 1, 2025 |
Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO) Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| - | - |
Competitive Strength:
- -
Prozeal Green Energy Limited IPO (Prozeal Green Energy IPO) Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2024 | 514 | 475.49 | 51.6 | 243.84 | 82.6 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 422.94 | 953.89 | 92.24 | 192.03 | 77.34 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 221.93 | 341.8 | 21.52 | 72.02 | 62.92 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 157.25 | 290.25 | 10.07 | 20.48 | 3.43 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 69.87% |
| RoNW | 69.87% |
| PAT Margin | 9.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
Objectives of the Prozeal Green Energy IPO
The company plans to allocate â¹250 crore towards bolstering its long-term working capital needs. This infusion will support the execution of large-scale renewable energy projects and enhance operational efficiency.
Prozeal Green Energy Limited aims to raise â¹700 crore through its Initial Public Offering (IPO), comprising a fresh issue of â¹350 crore and an offer for sale of â¹350 crore by promoters and existing investors. The primary objectives for utilizing the net proceeds from the fresh issue are:â
1. Funding Long-Term Working Capital Requirements:
The company plans to allocate â¹250 crore towards bolstering its long-term working capital needs. This infusion will support the execution of large-scale renewable energy projects and enhance operational efficiency.
2. Investment in Subsidiaries for Debt Repayment:
An estimated â¹19.5 crore is earmarked for investing in subsidiaries to repay or prepay certain borrowings. This strategic move aims to strengthen the financial position of its subsidiaries and reduce consolidated debt levels.
3. General Corporate Purpose.
The remaining funds will be utilized for general corporate purposes, which may include pursuing new business opportunities, enhancing infrastructure, and other strategic initiatives to drive growth.
Conclusion
Prozeal Green Energy's IPO is a strategic step towards capitalizing on the growing demand for renewable energy solutions in India. With a significant portion of the proceeds directed towards strengthening working capital and reducing debt, the company is poised to enhance its operational capabilities and financial stability. This move not only reflects Prozeal's commitment to sustainable growth but also positions it favorably to seize emerging opportunities in the renewable energy sector.
RHP:
DRHP:
Frequently asked Questions (FAQs )
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1. What is the Prozeal Green Energy Limited IPO?
The Prozeal Green Energy IPO is a public issue of equity shares, where the company aims to raise ₹700 crore. This includes a fresh issue of ₹350 crore and an offer-for-sale (OFS) worth ₹350 crore by existing shareholders.
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2. When is the Prozeal Green Energy IPO opening?
The official IPO opening and closing dates have not been announced yet. The company has filed its Draft Red Herring Prospectus (DRHP) with SEBI, and the dates will be finalized once regulatory approvals are in place.
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3. What is the price band for the Prozeal IPO?
The price band for the IPO will be disclosed in the Red Herring Prospectus (RHP), which is released closer to the IPO launch date. As of now, it hasn’t been announced.
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4. What will the company do with the funds raised from the IPO?
According to the DRHP, the funds from the fresh issue will be used for: Long-term working capital needs (₹250 crore) Debt repayment (₹19.5 crore) General corporate purposes
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5. Who are the selling shareholders in the offer-for-sale (OFS)?
Promoters Shobit Baijnath Rai and Manan Hitendrakumar Thakkar are selling shares worth ₹168.5 crore each. Other shareholders like Aar EM Ventures LLP, Jaya Chandrakant Gogri, and others are also offloading small portions of their stake.
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6. What does Prozeal Green Energy do?
Prozeal is a Gujarat-based renewable energy company that provides end-to-end solutions like solar EPC, wind-solar hybrid systems, BESS, green hydrogen, and EV infrastructure. It’s India’s fourth-largest solar EPC player by revenue in FY24.
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7. What was Prozeal Green Energy's revenue and profit in FY24?
In FY24, the company reported a revenue of ₹948.9 crore and a net profit of ₹92.2 crore, showing massive year-on-year growth compared to FY23.
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8. Who is the lead manager of the IPO?
The name(s) of the lead book-running managers will be mentioned in the Red Herring Prospectus (RHP) and will be updated once officially released.
