Prozeal Green Energy IPO
Prozeal Green Energy, India’s fourth-largest solar engineering, procurement, and construction (EPC) firm by revenue in FY24, aims to raise Rs 700 crore through its public offering. The issue consists of a fresh equity sale of Rs 350 crore and an offer for sale (OFS) of Rs 350 crore by promoters and existing investors.The company plans to use the proceeds for long-term working capital, investments in subsidiaries for debt repayment, and general corporate purposes. Book-running lead managers for the issue are Nuvama Wealth Management and SBI Capital Markets.
Prozeal specializes in turnkey solar energy solutions, catering mainly to commercial and industrial clients. Its portfolio includes 182 solar projects with a total installed capacity of 783.98 MWp across India and Nepal. As of September 30, 2024, its order book stood at Rs 2,220.92 crore, primarily in ground-mounted solar power projects.
The company has seen strong financial growth, with revenue surging from Rs 287 crore in FY22 to Rs 949 crore in FY24 at a compounded annual growth rate (CAGR) of 81.77%. Net profit grew from Rs 10 crore to Rs 92 crore in the same period.
Gujarat Kidney and Super Speciality IPO
Regional healthcare chain Gujarat Kidney and Super Speciality Limited has filed for an IPO consisting of a fresh issue of 2.2 crore shares.The hospital chain aims to allocate Rs 77 crore towards acquiring Parekhs Hospital in Ahmedabad, Rs 12.4 crore for a partially completed purchase of Ashwini Medical Centre, and Rs 30.2 crore for setting up a new hospital in Vadodara. Additionally, Rs 7.3 crore will be used for robotic equipment procurement, and Rs 1.5 crore will go toward debt repayment and potential acquisitions.The company currently operates six multi-speciality hospitals across Gujarat, with a total capacity of 400 beds. It reported revenue growth from Rs 34.01 crore in FY23 to Rs 41.04 crore in FY24, while profit after tax rose from Rs 2.8 crore to Rs 4.34 crore.
Nirbhay Capital Services is the sole book-running lead manager for the IPO, with equity shares proposed to be listed on the NSE and BSE.
Also read | IPO Calendar: Muted start to FY26 with no new issues this week, but Street to see 4 listings
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