Deon Energy’s initial public offering (IPO) is a brand-new share issuance without an offer for sale component. The firm is situated in Ahmedabad.
Deon Energy, a supplier of renewable energy solutions, has submitted draft documents to the Securities and Exchange Board (Sebi) requesting permission to raise Rs 150 crore via an IPO.
This Thursday’s filing of the draft red herring prospectus (DRHP) revealed that the Ahmedabad-based company’s IPO is a new issuance of shares with no offer for sale (OFS) component.
The company’s long-term working capital needs would be funded with the Rs 100 crore in funds obtained via the IPO, with a part set aside for general corporate reasons.
Founded in 2020, the firm specializes in providing commercial and industrial customers with end-to-end renewable energy solutions, including turnkey engineering, procurement, and construction (EPC) of solar energy projects. For its customers, the business completes independent solar EPC projects.
The business completed 78 solar power projects as of March 2025, with 140.29 MWDC (megawatt direct current) and 118.80 MWAC (megawatt alternating current) installed capacity.
In FY25, the company’s operating revenue was Rs 299 crore, while its net profit was Rs 26 crore.
The public offering’s only book-running lead manager is Smart Horizon Capital Advisors.