Key Deal Highlights
- Leading renewable energy player with a strong track record of developing, constructing and operating renewable power projects, driven by an experienced teams across all stages of the process
- Successfully completed 47 IPP projects and 81 CPP projects with a cumulative commissioned capacity of ~343 MW as of September 30, 2023, across 25 sites in Gujarat
Key Deal Highlights and SBICAPS Value Add
- The issue was oversubscribed with a demand of ~ 3x of the issue size
- First fund raise post company’s IPO in 5 years. The issue witnessed strong participation across institutional investor categories
- SBICAPS played a crucial role as the sole banker enabling a seamless and successful closure
- SBICAPS was instrumental in completing the QIP in less than 3 months, in a crowded window with multiple ECM transactions
- SBICAPS was crucial in converting marquee long-only investors and hand holding the management throughout the QIP Process
- The transaction success reflects the increasing investor interest in India’s clean energy transition and its potential to transform India’s energy landscape
Offering Summary
| QIP Size | INR 300 Cr | |
| SEBI Floor Price | INR 1,245.00 | |
| QIP Price | INR 1,183 | |
| Launch Date | 21st December 2023 |
