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2h ago

Deon Energy Files DRHP for Rs 150 Crore Fresh-Issue IPO

The preliminary filing points to an institutional-heavy book build, with final use-of-proceeds details to be set in the prospectus.

Ahmedabad's Deon Energy files draft papers with Sebi for Rs 150 crore IPO

Overview

  • The offer comprises only a fresh issue aggregating Rs 150 crore, with shares proposed for listing on the NSE and BSE.
  • The IPO will be via book building with 75% reserved for QIBs, up to 15% for NIIs and 10% for retail investors, plus a discounted employee reservation.
  • Reports differ on deploying Rs 100 crore of the proceeds, citing either long-term working capital or repayment of borrowings, with confirmation expected in the final document.
  • Smart Horizon Capital Advisors is the book-running lead manager and Bigshare Services is the registrar.
  • The Ahmedabad-based solar EPC and O&M firm reported Rs 298.8 crore revenue in FY25, executed 78 projects totaling 140.29 MWDC, and disclosed a Rs 505.2 crore order book as of August 31, 2025.