Renfra Energy India Limited files DRHP with SEBI to raise funds via IPO

Tamil Nadu headquartered Renfra Energy India Limited, an integrated solar and wind energy solutions provider, catering primarily to C&I (Commercial and Industrial) clients has filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO).

According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to ₹ 430 crore and an offer for sale (OFS) of up to 47,94,800 equity shares by the Selling Shareholders. The Promoters of Renfra Energy - Muthuraj Periyasamy, Chairman & Managing Director and Jayendran, Executive Director are not participating in the OFS

 Renfra Energy India Limited proposes to utilize the Net Proceeds of the Fresh Issue towards redemption of Non-Convertible Debentures issued by the company (₹ 160 crore), funding its working capital requirement (₹ 175 crore), and general corporate purposes.

Incorporated in 2017, ReNfra EnerGy India Limited operates in the turnkey EPC and renewable project execution segment, catering to utility-scale and commercial & industrial (C&I) customers across Tamil Nadu and Puducherry. Its service offerings span three business lines of renewable energy solutions - Solar Energy Solutions, Wind Energy Solutions and Operation & Maintenance Services.

The company, in consultation with the BRLMs, may consider a Pre-IPO Placement of Equity Shares aggregating up to ₹ 50 crore, prior to filing of the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the amount raised will be reduced from the Fresh Issue.

Renfra Energy’s FY26 revenue from operations stood at ₹ 1,013 crore, recording a 54.38% CAGR from FY23. The profit after tax (PAT) for the same period stood at ₹ 156.8 crore.

As of May 15, 2026, Renfra Energy has executed Completed Projects with an aggregate installed capacity of 462.35 MW, comprising 412.85 MW of solar projects and 49.50 MW of wind projects, and have Ongoing Projects with an aggregate capacity of 139.10 MW, comprising 83.00 MW of solar power projects and 56.10 MW of wind power projects under various stages of execution.

 KPI Green Energy Limited, K.P. Energy Limited, Solarworld Energy Solutions Limited and Zodiac Energy Limited are the listed peers of the company as per the DRHP. Unistone Capital Private Limited is the book running lead manager (BRLM) to the offer.

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