| Annual Financials | Mar 2025 | Jan 2026 |
| Revenue | 46.01 | 57.46 |
| Expenses | 40.57 | 49.35 |
| Other Income | 0.12 | 0.09 |
| Total Revenue | 46.14 | 57.56 |
| Profit Before Tax | 5.57 | 8.21 |
| Net Profit | 4.17 | 6.16 |
Oneindig Technologies
Oneindig Technologies IPO
₹2,18,400
0.37 xOver-subscribedBidding Dates 30 Jul, 26 -03 Aug, 26
Min Investment ₹2,18,400
Lot Size1,200
Price Range ₹91 – ₹96
Issue Size ₹27.65 Cr.
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IPO Subscription Details
Retail Subscription Details
0.56 x
Non-Institutional Buyers (sHNI)
0.19 x
Non-Institutional Buyers (bHNI)
0.56 x
Qualified Institutional Buyers (QIB)
0 x
Total0.37 x
0.37 x IPO Timeline
IPO Offer Start
30 Jul,26
IPO Offer Ends
03 Aug,26
Allotment Finalisation
04 Aug,26
Refund Initiation
05 Aug,26
Listing of Shares
06 Aug,26
IPO Analysis
Strengths
The company is an established solar power EPC company with presence across the solar value chain, providing EPC services primarily for solar power projects with focus on project design and engineering across all aspects from conceptualizing to commissioning.
The company has commissioned 38 MW of solar EPC projects with over 8 years experience in executing 17 ground mounted projects across 14+ States in India, developing reputation for project management and execution capabilities.
The company's Co-Developer approach comprises land acquisition, site preparation, approvals, and offtake arrangements followed by transferring to developer and undertaking EPC and O&M activities, providing comprehensive control over expenses and cost efficiency.
Risks
The company's business is working capital intensive and requires substantial financing for operations. The company typically relies on internal accruals and credit facilities from banks, with declining turnover ratios indicating potential cash flow challenges that could adversely affect operations and profitability.
The company is heavily dependent on its top 10 customers, which contributed 97.25%, 96.76%, 88.01%, and 69.38% of revenue from operations for the periods ended January 31, 2026, and fiscal years 2025, 2024, and 2023 respectively. Loss of any major customer could severely impact business operations and cash flows.
The company procured 86.01%, 99.49%, 93.46%, and 81.50% of total purchases from its top 10 suppliers during respective periods, without definitive supply agreements. Any supply interruptions could adversely affect business operations and project timelines.
Objectives
The company proposes to utilize funds to meet incremental working capital requirements driven by revenue growth and expansion of solar EPC projects. The funds will support inventory procurement, trade receivables, margin money deposits for government tenders, and day-to-day operations across multiple states.
The company intends to deploy the balance proceeds for general corporate purposes including meeting operating expenses, initial development costs for projects, strengthening business development and marketing capabilities, and meeting business exigencies as approved by the Board of Directors.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2025 | Jan 2026 |
| Total Assets | 35.53 | 88.99 |
| Current Assets | 30.35 | 57.39 |
| Fixed Assets | 5.18 | 31.60 |
| Total Equity & Liabilities | 35.53 | 88.99 |
| Total Liabilities | 20.83 | 68.13 |
| Current Liabilities | 19.71 | 42.46 |
| Non Current Liabilities | 1.12 | 25.67 |
| Total Equity | 15.69 | 20.86 |
Cash Flow
| Cash Flow | Mar 2025 | Jan 2026 |
| Net Cash Flow | -2.25 | 0.09 |
| Investing Activities | -2.63 | -26.79 |
| Operating Activities | -0.30 | -14.70 |
| Financing Activities | 0.67 | 41.58 |
About Oneindig Technologies
Oneindig Technologies Limited is engaged in providing Engineering, Procurement and Commissioning (EPC) services in the solar energy sector, including complete turnkey solar power solutions and associated Operations and Maintenance (O&M) services. The company undertakes diverse solar projects including residential rooftop, commercial & industrial (C&I) rooftop, ground-mounted projects and solar water...more
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Managing DirectorManoj Agrawal
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