Deon Energy Eyes Rs 150 Crore via IPO for Renewable Expansion

Deon Energy, a renewable energy solutions provider, has filed for a Rs 150 crore IPO with Sebi for expansion. The IPO is fully a fresh issue, with funds earmarked for working capital and corporate purposes. The company has executed 78 solar projects with a capacity of 140.29 MWDC.

Deon Energy, based in Ahmedabad, has submitted draft papers to market regulator Sebi, seeking approval to raise Rs 150 crore through an initial public offering (IPO). The offering consists solely of new shares, with no offer for sale components, according to the draft red herring prospectus filed this Thursday.

The renewable energy firm intends to allocate Rs 100 crore from the IPO proceeds for its long-term working capital requirements, with the remainder designated for general corporate purposes. Deon Energy, founded in 2020, specializes in end-to-end renewable energy solutions, focusing primarily on solar energy projects within the commercial and industrial sectors.

As of March 2025, Deon Energy has completed 78 solar power projects, achieving an installed capacity of 140.29 MWDC and 118.80 MWAC. The company's financial performance in FY25 included operational revenues of Rs 299 crore and a net profit of Rs 26 crore. Smart Horizon Capital Advisors is leading the IPO process.

(With inputs from agencies.)