Regreen-Excel EPC India files for IPO with SEBI

Regreen-Excel EPC India is a state-of-the-art engineering, procurement, and construction (EPC) firm that designs, builds, and supplies facilities for ethanol production. As per the F&S Report, by March 31, 2024, the company will have become the most recent among the leading Indian producers and suppliers of ethanol plants, encompassing biofuels, zero liquid discharge systems, distillery, sugar and cogeneration, and renewable energy. Regreen-Excel EPC India has worked on projects in Turkey and Thailand in addition to other parts of India. By July 15, 2024, they had finished projects in seventeen states in Northern India, Southern India, Eastern India, Western India, and Central India. The company’s order book contained 64 active projects worth a total of Rs. 3,451.68 crore as of July 15, 2024. They were given fifteen new orders for projects between April 1, 2024, and July 15, 2024, totaling Rs. 1,046.25 crore. The company’s order book contained 64 active projects worth a total of Rs. 3,451.68 crore as of July 15, 2024.

IPO details:

The draft red herring prospectus (DRHP) that Regreen-Excel EPC India Limited submitted for an initial public offering (IPO) has been received by the capital market regulator, Securities and Exchange Board of India (SEBI). As part of the company’s first public offering, the promoter selling stockholders would sell up to 11,450,380 equity shares in a new issue worth Rs. 350 crore. Sanjay Shrinivasrao Desai, Tushar Vedu Patil, Alimuddin Aminuddin Sayyed, Kiran Sudhakar Gavali, Rokesh Luis Mascarenhas, and Sagar Satish Raut are among the promoters offering shares in the offer for sale (OFS).

A bid to sell up to 11,450,380 equity shares, collectively referred to as the “promoter selling shareholders,” which are made up of the following: up to 3,944,020 equity shares by Sanjay Shrinivasrao Desai; up to 1,501,272 equity shares aggregating by Tushar Vedu Patil; up to 1,501,272 equity shares by Alimuddin Aminuddin Sayyed; up to 1,501,272 equity shares by Kiran Sudhakar Gavali; up to 1,501,272 equity shares by Rokesh Luis Mascarenhas; and up to 1,501,272 equity shares by Sagar Satish Raut.

Regreen-Excel EPC India used the following IPO funding:

The company intends to pay down or prepay a portion of its debt, fund the margin required to secure bank guarantees, fund its capital expenditure requirements, and use the net proceeds from the new offering for general corporate purposes.

Conclusion: Regreen-Excel In addition to paying back a portion of the loan, EPC India plans to use the money for future growth through an initial public offering.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.