IPO
Renfra Energy files draft papers to raise Rs.430-Cr in fresh issue
Tamil Nadu-based Renfra Energy has filed papers to raise INR 430 crore through an initial public offering (IPO) via a fresh issue of shares. The transaction also includes an offer-for-sale of 4,794,800 equity shares by existing shareholders. Unistone Capital is the sole book-running lead manager for the issue. The firm may raise INR 50 crore through an anchor issue.Incorporated in 2017, Renfra Energy operates in the turnkey engineering, procurement, and construction and renewable project execution segment, providing solar and wind energy solutions along with maintenance services to utility-scale, commercial, and industrial customers. The firm plans to use the net proceeds from the fresh issue to fund the redemption of non-convertible debentures (NCDs) worth INR 160 crore and support working capital requirements of INR 175 crore.For FY26, the firm reported revenue from operations of INR 1,013 crore and a profit after tax of INR 156.8 crore.
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