Stories
Deon Energy Files for IPO to Fund Solar Power Expansion and Working Capital
N
News18•26-09-2026, 12:30
Deon Energy Files for IPO to Fund Solar Power Expansion and Working Capital
- •Deon Energy, an Ahmedabad-based solar EPC company, has filed draft papers with Sebi for an IPO.
- •The IPO comprises a fresh issue of up to 72 lakh equity shares and an Offer For Sale of up to 20 lakh shares by promoters.
- •Funds from the fresh issue will be used to set up a 30 MW DC independent power production plant in Gujarat and for working capital.
- •The company plans to enter solar power generation, complementing its existing turnkey EPC services for ground-mounted and rooftop solar projects.
- •Deon Energy's revenue rose to Rs 456.28 crore in FY26 from Rs 298.54 crore in FY25, with profit after tax increasing to Rs 46.06 crore from Rs 26.41 crore.
Key Questions Answered
Deon Energy's proposed initial public offering includes a fresh issue of up to 72 lakh equity shares and an offer for sale of up to 20 lakh shares by promoters.
The company plans to utilize Rs 95.80 crore to establish a 30 MW DC independent power production plant across six sites in Gujarat, allocate Rs 75 crore toward working capital, and use the remaining funds for general corporate purposes.
Deon Energy reported an operational revenue of Rs 456.28 crore for FY26, up from Rs 298.54 crore in FY25, while its profit after tax increased to Rs 46.06 crore from Rs 26.41 crore.
