Prozeal Green Energy has decided to launch an IPO for a filed DRHP with the SEBI. It has the aim of raising funds via this IPO worth ₹700 Cr.
Prozeal aims to raise ₹350 crore from the fresh issue of equity shares with a face value of ₹2 per share.
OFS (Offer For Sale) Information
Prozeal Green Energy ₹350 crore, wherein ₹168.5 crore is by promoters Shobit Bhaijnath and Manan Hitendrakumar Thakkar.
Moreover, ₹3 crore by investor AAR EM Ventures LLP, and ₹2 crore will be offloaded by Bhaveshkumar Bachubhai Mehta.
A ₹6 crore by Jaya Chandrakant Gogri and up to ₹2 crore will be sold by Manoj Mulji Chheda.
Prozeal Green Energy Fund Deployment
According to DRHP, ₹250 crores will be allocated towards working capital needs, and ₹19.532 crores will be utilized for repaying one of the borrowings in one of the subsidiaries, as per the plan.
The remaining amount will be used for general corporate purposes, as per the regulatory filing.
Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book-running lead managers of the IPO.
Meanwhile, MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is the registrar.
Prozeal Green Energy is one of the leading companies in terms of providing renewable energy solutions. It aims to contribute to a carbon-neutral future through innovation, advanced solar EPC technology, and strategic sustainability initiatives.
Prozeal Green rebuilt energy in a total of 17 states and extended worldwide.
Prozeal has recently launched a new company in Nepal and is also working on expanding into the European market.
Prozeal Green Energy IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Prozeal Green Energy Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹290.25 | ₹276.76 | ₹10.07 |
| 2023 | ₹341.80 | ₹312.14 | ₹21.52 |
| 2024 | ₹953.89 | ₹836.02 | ₹92.24 |
| September 2024 | ₹475.49 | ₹404.54 | ₹51.60 |
Prozeal Green Energy IPO Valuation – FY2024
Prozeal Green Energy IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹16.84 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 69.87% |
| Net Asset Value (NAV): | ₹34.38 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Sterling & Wilson Renewable Energy Limited | (10.40) | NA | (121.17%) | 33.09 | 3,035.37 Cr. |
| KPI Green Energy Limited | 14.09 | 27.43 | 29.56% | 63.67 | 1,023.90 Cr. |
| Waaree Renewable Technologies Limited | 13.95 | 59.75 | 87.66% | 23.64 | 876.50 Cr. |
| Gensol Engineering Limited | 22.37 | 13.64 | 26.66% | 100.02 | 1,211.08 Cr. |
Objects of the Issue
- Funding the long-term working capital requirements of our Company;
- Investment in our Subsidiary(ies) for repayment/ prepayment, in part or full of certain borrowings; and
- General corporate purposes (collectively, the “Objects”)
IPO Lead Managers aka Merchant Bankers
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
