Sugs Lloyd Ltd, a Delhi-based renewable EPC company, today announced it has received in-principal approval from the BSE SME Exchange for its Initial Public Offering (IPO). The company had previously filed a Draft Red Herring Prospectus (DRHP) with the BSE SME in November 2024 and is now preparing to submit the Red Herring Prospectus (RHP) with updated information.
The IPO comprises a fresh issue of up to 59,00,000 equity shares, each with a face value of INR 10.
Sugs Lloyd Ltd aims to raise around INR 85.4 crore through the book-building route. Of the total proceeds, INR 64 crore will be allocated toward working capital requirements to support business expansion, while the remaining amount will be used for general corporate purposes.
3Dimension Capital Services Ltd serves as the book running lead manager for the IPO, while Kfin Technologies Services is the Registrar to the offer.
Sugs Lloyd operates in the renewable energy sector, with a primary focus on solar energy, electrical transmission and distribution, and civil EPC projects. The company offers a comprehensive suite of services, including the development of power transmission and distribution infrastructure, construction of power substations, and modernization of existing power systems. Additionally, it provides innovative outage management solutions (OMS) utilizing fault passage indicators, auto reclosers, and sectionalizers for electricity distribution companies (DISCOMs).
The company recorded INR 25.49 crore in revenue from operations with a profit (PAT) of INR 3.53 crore in the first quarter of fiscal year 2025, ending June 30, 2024, compared to INR 65.12 crore in revenue from operations and a profit (PAT) of INR 10.48 crore in FY24.
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