• Issue Size: It provides a fresh issue size of 29,19,000 equity shares of Rs 10 face value. 

• Price Range: The range of prices for each equity share is set from Rs.47 - Rs.50 per share.
• Issue Type: The IPO is a 100% book built issue type.
• Subscription date: The IPO subscription begins from February 4th  2025 and ends on 6th February, 2025
• Lot size: It is providing a lot size of 3000.
• Listing Date: The IPO is going to be listed on 11th February, 2025.
• Stock Exchange: The stock exchange is going to be the NSE.(SME)

The Company vide this IPO seeks to utilize the net proceeds towards meeting Capital Expenditure for Purchasing New Testing Kits and Equipment’s, repayment of loans, and implementing general corporate developments and workings.

The table below (in lakhs) stipulates the restated Financial Information of the company over the last 3 fiscal years and up to 31st December, 2024.

Over the last few years, the Indian power generation sector has shown relative growth and has increased at a CAGR of 4.75% from 2019 to 2023. India’s power generation comes from many sources like coal, natural gas, oil, hydro, nuclear power, wind, solar etc and is the third-largest producer and consumer of electricity in the world.

Till December 2023, 40.1% of India's installed renewable capacity and 16.9% of its installed power capacity came from solar power generation. India is one of the greatest places to generate solar energy and has grown its capacity 26 times in the last 9 years, reaching 73.32 GW as of December 2023.

The country added 18.48 GW of renewable energy capacity in 2023- 24, with a 21% increase over the previous year, but industry experts have set a target for atleast 50 GW of annual additions to meet the 500 GW target by 2030.

The government of India in the Budget of 2022-23 also allocated Rs. 7,327 crore (US$ 885 million) for the solar power sector including grid, off-grid, and PM-KUSUM projects and has further attributed many schemes like Production Linked Incentive (PLI) Scheme for the National Programme on High Efficiency Solar PV Modules, sanctions for building PV module manufacturing units, Green Hydrogen Mission, Strategic Interventions for Green Hydrogen Transition (SIGHT) Program, etc. and is currently constructing the world’s largest floating solar energy project at the Omkareshwar Dam, Madhya Pradesh at an estimated cost of Rs. 3,000 crore.

• The company is in the line of industry where the union government is constantly investing by implementing various power generating schemes and projects.

• The company has more than 10 years of expertise in the industry and houses over 600 engineers and supervisors and is equipped with latest machinery and clients from across various government entities, public and private companies, etc.
• The company has solar power plant facility at Gujarat and has procured a power purchase agreement with Uttar Gujarat Vij Company Limited for 25 years.
• The company over the last three fiscal years has generated considerable profit from Rs 51.28 Lakh in 2022 to Rs. 281.48 Lakh as of 31st December, 2024.

• The company’s major revenue is derived from Operation, Maintenance, Testing and Commissioning of Electrical Sub-stations, failure to maintain the demand, clients or quality/standards of services may adversely affect the financial conditions and the business operations of the company.

• The company’s operations and major revenue is generated from the state of Gujarat, Any political, natural, economic or demographically changes in the region could adversely affect the business operations and financial conditions of the company.
• The company's operation depends on certain managements personals, employees/workers etc failure to retain these personnel or in the event of strikes or shortage of employees the business operations could be highly affected.
• The company’s promoters and directors are facing certain tax proceedings and civil litigation, any adverse outcome of these pending litigation may affect the business, resulting to loss of operations and financial condition.

The power sector is a very prominent sector in India that contributes to the welfare and the economic growth of the country. The power generating sector is projected to grow given the rising demand of consumption of power in all sectors.

The company operates solar plant facility at Gujarat and provides services to many prominent power companies and has further secured a power purchase agreement with Uttar Gujarat Vij Company Limited for the next 25 years.

The company has shown healthy profits in the last three fiscal years increasing from Rs 51.28 Lakh in 2022 to Rs. 281.48 Lakh as of 31st December, 2024 and further aims to expand its operation in the renewable energy sector in India.

Potential investors should outline the risks given in the RHP prospectus before investing.

The company with the help of this Initial Public Offering (IPO) aims to raise capital to Purchase New Testing Kits and Equipment’s, meet its corporate working requirements, repay its debts and implement business developments.

The company has shown positive financial growth for the last three years and offers its service to prominent power distribution companies in the state of Gujarat.

The union government is continuously investing in developments in the power and renewable energy sector and this industry would potentially be fruitful for investors in the long run, but prospective investors should analyzie the risk factors outlined in the RHP draft prospectus before investing.