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SAEL Industries announced that the company has filed its DRHP for a ₹4,575 crore IPO with SEBI.
The company operates in the renewable energy space and provides solutions like biomass-based power projects, solar parks, and agri-waste management.
The deets: the IPO size consists of fresh issue worth ₹3,750 crore and offer-for-sale of ₹825 crore. The newly raised capital would be utilised to fund subsidiaries, repay borrowings, and expand capacity.
Zoom out: the company is yet to turn profitable, having reported a loss of ₹4.8 crore in FY24. With the new funding, SAEL can now focus on strengthening its balance sheet.
India’s renewable energy market is growing rapidly, expanding at an annual rate of 8.1%. It’s expected to reach a valuation of $52.1 billion by 2033, supported largely by government initiatives.
IMARC
