Deon Energy files draft IPO papers with SEBI to fund 30 MW solar power expansion

Mumbai: Ahmedabad-based solar engineering, procurement and construction (EPC) firm Deon Energy has filed draft papers with SEBI for an initial public offering that would fund its move into solar power generation.The proposed IPO includes a fresh issue of up to 72 lakh equity shares and an offer for sale of up to 20 lakh shares by promoters, according to the draft red herring prospectus. The company has yet to announce a price band or issue dates.Where The IPO Funds Will GoDeon Energy intends to use ₹95.80 crore from the fresh issue to develop a 30 MW DC independent power production plant. The proposed capacity will be spread across six identified sites in Gujarat’s Junagadh, Surendranagar and Kachchh districts.Gujarat Inject Kerala Wins ₹14.49 Crore Solar Module Order, Secures Supply Contract For 16,129 Solar PV Modules From Deon Energy A further ₹75 crore will meet working capital needs. The balance will be used for general corporate purposes. Money raised through the offer for sale will go to the selling promoters, rather than the company.From Solar EPC To GenerationDeon Energy currently provides turnkey services for ground-mounted and rooftop solar installations. Its work covers engineering, procurement, construction and commissioning, alongside operations and maintenance.The planned plant would give the company a foothold in power generation in addition to its existing project development business.₹2,700 Crore Hospitality IPO Goes Off The Table, Prestige Group Cites Tough Market Conditions Since starting as a partnership firm in 2020, Deon Energy has completed 126 solar projects with a combined installed capacity of 321.53 MW DC as of August 31, 2026. Its outstanding EPC order book stood at ₹527.43 crore across 34 projects on that date.Revenue And Listing PlansRevenue from operations rose to ₹456.28 crore in FY26 from ₹298.54 crore in FY25. Profit after tax increased to ₹46.06 crore from ₹26.41 crore.The company serves industrial customers in sectors including ceramics, chemicals, pharmaceuticals, textiles and paper. Its shares are proposed to list on the BSE and NSE, with Valmiki Leela Capital managing the issue.

Deon Energy plans to expand into solar power generation, alongside its existing EPC business

Deon Energy, an Ahmedabad-based solar EPC firm, is set to launch an IPO to gather capital. This offering will feature a fresh equity share issue coupled with a promoter's sale of shares. The funds raised aim to establish a 30 MW solar power plant in Gujarat while also boosting working capital and covering essential corporate expenses.