Deon Energy files SEBI IPO draft, plans 95.80cr 30MW plant
Deon Energy, a young Ahmedabad-based solar company, just filed draft papers with SEBI to raise funds via an IPO.
They're planning to use ₹95.80 crore from the fresh issue proceeds to build a 30-MW solar plant in Gujarat, pretty big news for clean energy fans.
The IPO includes both new shares and an offer for sale (OFS) of up to 20 lakh shares by promoters.
Deon Energy shifts to power generation
Launched in 2020, Deon has already wrapped up 126 solar projects with 321.53 MW DC capacity across industries like ceramics and pharma.
Their revenue jumped from ₹298.54 crore last year to ₹456.28 crore this year.
Shares are proposed to be listed on BSE and NSE, with Valmiki Leela Capital managing the IPO.
This move helps Deon shift from just building solar projects to actually generating power themselves, a major step forward.