Upcoming IPO: Integrum Energy Infrastructure files draft papers with BSE for SME IPO

Integrum Energy Infrastructure Ltd has filed its draft red herring prospectus (DRHP) with BSE SME. The company's primary focus is on developing and offering unique renewable energy solutions to industrial and commercial clients. Their specific expertise lies in implementing Solar, Wind, and Hybrid installations to help customers reduce their energy expenses and environmental impact.

The issue will consist of up to 54,90,000 equity shares valued at ₹10 each, with 49,50,000 equity shares allocated for fresh issue and 5,40,000 equity shares for offer-for-sale (OFS). Promoters Shyam Sundar Maheshwari, and Shipra Goel will be offloading shars via OFS component.

Promoters Anand Lahoti, Shyam Sundar Maheshwari, Puneet Goel, and Shipra Goel collectively own 1,49,64,970 equity shares, which make up 94.83% of the company's issued and paid-up equity share capital.

IPO objective 

The primary objective of the IPO is to fund working capital requirements, invest in its subsidiary, Integrum Green Assets Private Ltd, for the construction of a solar plant to supply energy to C&I customer through a long-term Power Purchase Agreement, cover expenses for inorganic growth via acquisitions and other strategic initiatives, and for general corporate purposes.

The book running lead manager to the issue is Beeline Capital Advisors Private Ltd, and the registrar to the issue will be Integrated Registry Management Services Private Ltd.

As per the DRHP, the company's sole listed peer is Oriana Power Ltd (with a P/E of 63.66).

As of March 31, 2024, the company posted a revenue of ₹23,324.07 lakhs, an EBITDA of ₹2,075.57 lakhs, and a PAT of ₹1,515.19 lakhs.

Founded in 2021 and based in Bengaluru, Integrum is committed to promoting sustainability by assisting businesses in transitioning to clean energy and cutting emissions through customised energy solutions.

By leveraging internal analytics, Integrum enhances the adoption of renewable energy to enhance operational efficiency and competitiveness. The experienced leadership team at Integrum plays a crucial role in shaping the company's vision and expansion. Integrum's subsidiary, Integrum Green Assets Pvt Ltd, is presently working on a solar power project in Karnataka, further demonstrating Integrum's dedication to sustainable energy solutions and assisting businesses in embracing greener and more efficient energy practices.

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