Sugs Lloyd's Solar Surge: IPO Set to Power New Ventures

Sugs Lloyd, an EPC company in the renewable energy sector, received approval for an IPO to raise funds. The company aims to gather approximately Rs 85.4 crore, with the proceeds directed towards expanding business operations and covering general corporate expenses.

Sugs Lloyd, a prominent player in the renewable energy sector, has received in-principle approval from the BSE SME exchange for a significant initial public offering (IPO).

The IPO, entirely a fresh issue, aims to raise approximately Rs 85.4 crore through the book-building route, involving up to 59 lakh equity shares.

The funds will assist in meeting Sugs Lloyd's working capital needs, business expansion, and general corporate purposes, while the company continues to dominate with its solar energy and distribution projects.

(With inputs from agencies.)