Deon Energy Files Rs 150 Crore IPO to Fuel Growth and Reduce Debt
Deon Energy Ltd., a renewable energy solutions provider, has filed preliminary papers with SEBI for an IPO to raise Rs 150 crore through fresh issue of shares. The company plans to use Rs 100 crore for repaying borrowings and the rest for general corporate purposes. Specializing in solar EPC projects, Deon Energy has executed 78 projects with 140.29 MWDC installed capacity since 2020. The company's revenue grew from Rs 41.80 crore in FY23 to Rs 298.80 crore in FY25, with a current order book of Rs 505.20 crore. Smart Horizon Capital Advisors is the lead manager for the IPO, with listing proposed on NSE and BSE.
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Deon Energy Ltd., a renewable energy solutions provider, has taken a significant step towards going public by filing preliminary papers with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company is looking to raise Rs 150.00 crore through a fresh issue of shares.
IPO Details and Fund Allocation
The IPO, consisting entirely of fresh share issues, aims to raise Rs 150.00 crore. Deon Energy has outlined clear plans for the utilization of the funds:
- Rs 100.00 crore will be allocated towards repaying borrowings
- The remaining funds will be used for general corporate purposes
Company Profile and Expertise
Deon Energy specializes in solar EPC (Engineering, Procurement, and Construction) projects, catering primarily to commercial and industrial clients. Since its inception in 2020, the company has demonstrated significant prowess in the renewable energy sector:
- Executed 78 solar power projects
- Achieved an installed capacity of 140.29 MWDC
Financial Performance
The company has shown remarkable financial growth:
| Fiscal Year | Revenue (in Rs crore) |
|---|---|
| FY23 | 41.80 |
| FY25 | 298.80 |
This represents a compound annual growth rate (CAGR) of 167.25%, highlighting the company's rapid expansion in the renewable energy market.
Current Order Book
Deon Energy reports a robust order book of Rs 505.20 crore, indicating strong future growth potential and market demand for its services.
IPO Management and Listing
- Book-running lead manager: Smart Horizon Capital Advisors
- Proposed listing: National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)
The filing of the Draft Red Herring Prospectus (DRHP) marks a crucial step for Deon Energy as it seeks to capitalize on the growing renewable energy market in India. The successful completion of this IPO could provide the company with the necessary capital to strengthen its financial position and fuel further growth in the competitive solar energy sector.
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