{"id":11472,"date":"2025-09-09T13:31:57","date_gmt":"2025-09-09T13:31:57","guid":{"rendered":"https:\/\/tezgyan.com\/index.php\/2025\/09\/09\/renewable-player-prozeal-green-energy-gets-sebi-nod-for-rs-700-crore-ipo-ipo-news\/"},"modified":"2025-09-09T13:31:57","modified_gmt":"2025-09-09T13:31:57","slug":"renewable-player-prozeal-green-energy-gets-sebi-nod-for-rs-700-crore-ipo-ipo-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/09\/09\/renewable-player-prozeal-green-energy-gets-sebi-nod-for-rs-700-crore-ipo-ipo-news\/","title":{"rendered":"Renewable Player Prozeal Green Energy Gets SEBI Nod for Rs 700 Crore IPO | Ipo News"},"content":{"rendered":"


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Last Updated:<\/span>

PROZEAL Green Energy Limited gets SEBI approval for \u20b97,000 million IPO, with strong growth in solar EPC projects, major clients, and robust financials for Fiscal 2024.<\/h2>\n
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Solar EPC Firm Prozeal Green Energy Gets SEBI Go-Ahead for Rs 700 Crore IPO<\/p>\n<\/figure>\n

PROZEAL Green Energy Limited gets market regulator Securities and Exchange Board of India approval to raise capital from the primary market via IPO.<\/p>\n

Initial public offering of face value of \u20b9 2 each (\u201cequity shares”) of Prozeal Green Energy Limited (\u201cour company” or the \u201cissuer”) aggregating up to \u20b9 7,000.00 million (the \u201coffer”).<\/p>\n

The offer comprises of a fresh issue of face value of \u20b9 2 each aggregating up to \u20b9 3,500.00 million (the \u201cfresh issue”) and an offer for sale of up of face value of \u20b9 2 each aggregating up to \u20b9 3,500.00 million (the \u201coffer for sale”), consisting up to \u20b9 1,685.00 million by Shobit Baijnath Rai and up to \u20b9 1,685.00 million by Manan Hitendrakumar Thakkar (the \u201cpromoter selling shareholders”), up to \u20b9 30.00 million by AAR EM Ventures LLP, up to \u20b9 20.00 million by Bhaveshkumar Bachubhai Mehta, up to \u20b9 60.00 million by Jaya Chandrakant Gogri and up to \u20b9 20.00 million by Manoj Mulji Chheda (the \u201cinvestor selling shareholders”) (the promoter selling shareholders along with the investor selling shareholders, the \u201cselling shareholders” and such equity shares, the \u201coffered shares”).<\/p>\n

The company proposes to utilize the Net Proceeds from the offer towards Funding the long-term working capital expenditure of the company, investment in the subsidiary(ies) for repayment\/pre-payment, in part or full, of certain borrowings, and general corporate purposes.<\/p>\n

Nuvama Wealth Management Limited, and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.<\/p>\n

Prozeal Green Energy is focused on delivering end-to-end renewable energy solutions, including engineering, procurement, and construction (EPC) of solar energy projects on a turnkey basis, with an emphasis on serving clients in the commercial and industrial sectors. While the company executes independent solar EPC projects for its clients, its major focus is on implementing projects based on the \u201cPlug-and-Play” solar park model. Under this model, the company facilitates seamless project deployment from conceptualization and land acquisition to commissioning and assists with obtaining the necessary approvals, including for evacuation lines from the solar power plant to the electricity grid. This process is complemented by its expertise in project design, execution capabilities, and procurement strategies.<\/p>\n

The company provides clients with customized solutions, including options for Capex or Opex models, land purchase or lease, and the selection of suitable technology. Since its inception in 2013 through September 30, 2024, Prozeal Green Energy has successfully executed 182 solar power projects with a total installed capacity of 783.98 MWp across 17 states in India and one overseas location (Nepal) for 125 clients.<\/p>\n

Prozeal Green Energy\u2019s EPC clients include prominent organizations such as Torrent Power Limited, AM Green Energy Pvt Ltd, GHCL Ltd, Alembic Pharmaceuticals Limited, Asahi Songwon Colors Limited, Mark Alloys Private Limited, Ajay Costspin Industries, Pashupati Costspin Limited, and ACG Associated Capsules Private Limited.<\/p>\n

As of September 30, 2024, its order book, defined as the amount payable under EPC contracts minus the revenue already recognized from those contracts, stood at \u20b922,209.22 million, of which \u20b922,093.04 million, or 99.48%, was for ground-mounted solar power projects.<\/p>\n

Prozeal Green Energy has demonstrated strong financial performance, with revenue from operations increasing from \u20b92,871.85 million in Fiscal 2022 to \u20b99,488.82 million in Fiscal 2024, representing a CAGR of 81.77%. Revenue from operations for the half year ended September 30, 2024, was \u20b94,685.40 million.<\/p>\n

The company\u2019s EBITDA grew from \u20b9115.44 million in Fiscal 2022 to \u20b91,247.36 million in Fiscal 2024, reflecting a CAGR of 228.71%. EBITDA for the half year ended September 30, 2024, was \u20b9687.13 million.<\/p>\n

Additionally, profit for the year increased from \u20b9100.71 million in Fiscal 2022 to \u20b9922.44 million in Fiscal 2024, representing a CAGR of 202.64%. Profit for the period for the half year ended September 30, 2024, was \u20b9515.95 million.<\/p>\n

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Varun Yadav<\/a><\/p>\n

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More<\/span><\/p>\n<\/div>\n<\/div>\n

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\n

First Published:<\/span><\/p>\n
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September 09, 2025, 18:39 IST<\/p>\n<\/div>\n<\/div>\n

News<\/a> business<\/a> ipo<\/a> Renewable Player Prozeal Green Energy Gets SEBI Nod for Rs 700 Crore IPO<\/span><\/div>\n
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Last Updated:September 09, 2025, 18:39 IST PROZEAL Green Energy Limited gets SEBI approval for \u20b97,000 million IPO, with strong growth in solar EPC projects, major clients, and robust financials for Fiscal 2024. Solar EPC Firm Prozeal Green Energy Gets SEBI Go-Ahead for Rs 700 Crore IPO PROZEAL Green Energy Limited gets market regulator Securities and…<\/p>\n","protected":false},"author":1,"featured_media":952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-11472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/11472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/comments?post=11472"}],"version-history":[{"count":0,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/11472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media\/952"}],"wp:attachment":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media?parent=11472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/categories?post=11472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/tags?post=11472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}