Renfra Energy Submits Papers With Sebi for IPO; Eyes Rs 430-Cr via Fresh Issue

New Delhi: Renfra Energy India has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO) comprising a fresh issue of shares worth Rs 430 crore.

Along with the fresh issue, the IPO will include an Offer-for-Sale (OFS) of 47,94,800 equity shares by the selling shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday. The company’s promoters — Muthuraj Periyasamy, Chairman and Managing Director, and Jayendran, Executive Director — are not participating in the OFS.

The Tamil Nadu-headquartered company proposes to utilise the net proceeds from the fresh issue towards redemption of non-convertible debentures worth Rs 160 crore, funding working capital requirements of Rs 70 crore, and the remaining amount for general corporate purposes. Renfra Energy may also undertake a pre-IPO placement of equity shares aggregating up to Rs 50 crore. If such placement is completed, the size of the fresh issue will be reduced accordingly.

Incorporated in 2017, Renfra Energy operates in the turnkey engineering, procurement and construction (EPC) and renewable project execution segment, serving utility-scale as well as commercial and industrial (C&I) customers across Tamil Nadu and Puducherry. Its business spans solar energy solutions, wind energy solutions, and operation and maintenance services.

For FY26, the company reported revenue from operations of Rs 1,013 crore, while profit after tax stood at Rs 156.8 crore.

As of May 15, 2026, Renfra Energy had executed renewable energy projects with an aggregate installed capacity of 462.35 MW, comprising 412.85 MW of solar projects and 49.50 MW of wind projects. It also had ongoing projects with a combined capacity of 139.10 MW, including 83 MW of solar and 56.10 MW of wind projects.

According to the draft papers, the company’s listed peers include KPI Green Energy Ltd, KP Energy Ltd, Solarworld Energy Solutions Ltd and Zodiac Energy Ltd. Unistone Capital Pvt Ltd is the sole book-running lead manager to the issue.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)